U.S. Posts Largest-Ever Monthly Budget Deficit in February
Source: Bloomberg
The U.S. posted its biggest monthly budget deficit on record last month, amid a 20 percent drop in corporate tax revenue and a boost in spending so far this fiscal year.
The budget gap widened to $234 billion in February, compared with a fiscal gap of $215.2 billion a year earlier. That gap surpassed the previous monthly record of $231.7 billion set seven years ago, according to data compiled by Bloomberg.
February’s shortfall helped push the deficit for the first five months of the government’s fiscal year to $544.2 billion, up almost 40 percent from the same period the previous year, the Treasury Department said in its monthly budget report Friday. The release was delayed a week by the government shutdown earlier this year.
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The fiscal shortfall is widening following President Donald Trump’s $1.5 trillion tax-cuts package that’s weighing on receipts and raising concerns about the national debt load, which topped a record $22 trillion last month.
Read more: https://www.bloomberg.com/amp/news/articles/2019-03-22/u-s-posts-largest-monthly-budget-deficit-on-record-in-february
= new reply since forum marked as read
to justify whacking government spending down to nothing but defense and their salaries.
Republican wash, rinse, repeat.....for as long as I can recall......
I will not give one penny of my Social Security, when companies, hedge funds and banks and such are not paying one cent to the treasury...........................and have been doing it for years....................
Enough is Enough.....................
