The government ran a $544 billion deficit over the first 5 months of the fiscal year
By Damian Paletta and Damian Paletta Reporter covering economic policy Email Bio Follow Erica Werner Erica Werner Congressional reporter focusing on economic policy Email Bio Follow March 22 at 3:14 PM The U.S. government posted the largest monthly budget deficit in American history in February, hitting a dramatic milestone as tax revenue lag and spending levels continue to skyrocket.
Critics of the government’s tax and spending approach said the new data prove that many of the budget promises from the White House and lawmakers are false. Typically, when the economy grows and unemployment falls, the budget deficit contracts because there is more tax revenue coming into the government and spending slows down.
The tax numbers could raise new questions about the overall health of the economy. White House officials have projected that the economy will grow 3.2 percent this year, but the Federal Reserve and other groups have forecast a much more modest clip.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US government posts $234 billion deficit in FebruaryThe U.S. federal government posted a $234 billion budget deficit in February, according to data released on Friday by the Treasury Department.
Read more »
US budget deficit sets February record of $234 billion
Read more »
U.S. runs largest monthly budget deficit on record in FebruaryThe federal government ran a budget deficit of $234 billion in February, the Treasury Department reported on Friday, the biggest monthly shortfall on record.
Read more »
The US posted a $234 billion budget deficit last month, the biggest one-month deficit in historyThe budget deficit is being driven by the tax reform law supported by President Trump and the GOP as well as the bipartisan spending deal.
Read more »
US budget deficit sets February record of $234 billion
Read more »
US government posts $234 billion deficit in FebruaryThe U.S. federal government posted a $234 billion budget deficit in February, according to data released on Friday by the Treasury Department.
Read more »
The US posted a $234 billion budget deficit last month, the biggest one-month deficit in historyThe budget deficit is being driven by the tax reform law supported by President Trump and the GOP as well as the bipartisan spending deal.
Read more »
U.S. runs largest monthly budget deficit on record in FebruaryThe federal government ran a budget deficit of $234 billion in February, the Treasury Department reported on Friday, the biggest monthly shortfall on record.
Read more »
Ichiro says goodbye to adoring fans; Mariners beat A's in 12Ichiro Suzuki was showered with cheers and chants Thursday night while taking his final bow in a magnificent career that lasted nearly three decades when the Seattle Mariners beat the Oakland Athletics 5-4 in 12 innings. The 45-year-old Ichiro went 0 for 4 in the second game of the Major...
Read more »