Thursday, March 4, 2021

Tag: Spending Us Into Oblivion: Federal Budget Deficit Tops $1 Trillion in 2019 Calendar Year

Spending Us Into Oblivion: Federal Budget Deficit Tops $1 Trillion in 2019 Calendar Year

by Peter Schiff, Schiff Gold:

The US federal government ran a budget deficit of over $1 trillion in the 2019 calendar year. It was the first budget deficit over $1 trillion in any calendar year since 2012 — in the midst of the Great Recession.

The budget shortfall from January through December totaled $1.02 trillion, according to the latest report issued by the Treasury Department. That continued a rapidly accelerating upward trajectory. The 2019 budget gap was 17.1% bigger than the 2018 deficit, which was a 28.2% increase over 2017.