https://www.bloomberg.com/news/arti...cit-to-balloon-to-1-trillion-by-2020-cbo-says
Spending will exceed revenue by $804 billion in the fiscal year ending Sept. 30, jumping from a projected $563 billion shortfall forecast in June, the non-partisan arm of Congress said in a report Monday. In fiscal 2019, the deficit will reach $981 billion, compared with an earlier projection of $689 billion.
Deficits were only set to surpass the trillion-dollar level in fiscal 2022 under CBO’s report last June. […]
The U.S. cumulative deficit -- taking into account the new tax and spending legislation -- will be $11.7 trillion from 2018 to 2027, about $1.6 trillion larger than the CBO projection in June. The CBO forecast 2 percent less revenue and 1 percent more spending over the period, it said.
Also: https://www.dailykos.com/stories/20...-pass-1-trillion-two-years-ahead-of-estimates
Spending will exceed revenue by $804 billion in the fiscal year ending Sept. 30, jumping from a projected $563 billion shortfall forecast in June, the non-partisan arm of Congress said in a report Monday. In fiscal 2019, the deficit will reach $981 billion, compared with an earlier projection of $689 billion.
Deficits were only set to surpass the trillion-dollar level in fiscal 2022 under CBO’s report last June. […]
The U.S. cumulative deficit -- taking into account the new tax and spending legislation -- will be $11.7 trillion from 2018 to 2027, about $1.6 trillion larger than the CBO projection in June. The CBO forecast 2 percent less revenue and 1 percent more spending over the period, it said.
Also: https://www.dailykos.com/stories/20...-pass-1-trillion-two-years-ahead-of-estimates
