The total deficit for the four month period was $310 billion, Treasury said.
By Damian Paletta Damian Paletta Reporter covering economic policy Email Bio Follow March 5 at 2:02 PM The federal budget deficit ballooned rapidly in the first four months of the fiscal year amid falling tax revenue and higher spending, the Treasury Department said Tuesday, posing a new challenge for the White House and Congress and they prepare for a number of budget battles.
The government is collecting less money in taxes and spending more money that it did a year ago, in part because of policy decisions that the White House and lawmakers embraced in recent years. Spending, meanwhile, increased 9 percent over the same period according to the new Treasury Department data.
The White House next week is expected to propose a new budget plan for the fiscal year that begins in October, and Democrats are working on spending plans of their own. So far, there has been little effort to reconcile differences between both parties, and neither has shown much interest in addressing the widening budget deficit.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Natural Light releases a 77 pack of beer and a strawberry lemonade beer called NaturdaysFull disclosure: Naturdays will enjoy a wide release, but, unfortunately, the 77 pack is only up for grabs during spring break in South Padre Island, Texas.
Consulte Mais informação »
Cardinal Pell to seek freedom while he fights conviction for child sex abuseLawyers for disgraced Cardinal George Pell are expected to argue Wednesday that the 77-year-old should remain free while he appeals his conviction for child sex abuse.
Consulte Mais informação »
Australian cardinal taken into custody as judge considers sentence for sexual assault convictionGeorge Pell, 77, is unlikely to commit more crimes, but his sentence would need to deter others, the judge said.
Consulte Mais informação »
Why getting this new 20 percent tax break might be tough this yearThe new 20 percent tax break for small businesses sounds like a good deal, yet accountants and tax prep software providers are grappling with last-minute changes to this provision. What it means for you.
Consulte Mais informação »
The economy expanded 2.9 percent in 2018, beating previous years but missing Trump’s goalThe economy expanded at a 2.9 percent pace in 2018, beating previous years but missing Trump's goal
Consulte Mais informação »
Lindt expects 5-7 percent growth this year as U.S. troubles persistSwiss chocolate maker Lindt & Spruengli said on Tuesday it expected organic sale...
Consulte Mais informação »
Trade deficit in goods jumps 12.8 percent amid tariff battleThe U.S. trade deficit in goods jumped to end 2018 amid a jump in imports, a move that could cause fourth-quarter economic growth measures to be lowered.
Consulte Mais informação »
China raises budget deficit to 2.8 percent of GDP: policy reportChina set a 2019 budget deficit target that's higher than last year's ...
Consulte Mais informação »