Federal deficit balloons 77 percent in first third of the fiscal year
Wednesday, March 6, 2019 | Tag Cloud Tags: deficit, News, tax, Washington, Worthy News | Learn about our FREE SYNDICATION Service | Sign up for our Worthy Briefs!
(Worthy News) – The federal deficit for fiscal year 2019 ballooned 77 percent in the first four months, compared to the previous year.
The federal deficit ran $310 billion in the first four months of this budgetary year, the Treasury Department said Tuesday. Tax revenue fell slightly, by $19 billion or close to 2 percent, while federal spending grew by close to 9 percent from the same period the year before.
Spending rose despite a partial government shutdown that took place during two of those months. Shutdowns typically delay payments, though the cost to stop and then restart certain government activities sometimes costs more than continuing those operations. [ Source: Washington Examiner (Read More…) ]
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.