U.S. Posts $1 Trillion Budget Gap, Full-Year May Be Lower

[brooklynite]

Source: Bloomberg

The U.S. budget deficit surpassed $1 trillion in the first 11 months of the fiscal year through August, according to data from the Treasury Department, though it’s likely the year-end deficit could narrow from a tax revenue bump.

September, the final month of the fiscal year, typically produces a surplus because quarterly tax payments are due. The Congressional Budget Office has estimated that the 2019 budget deficit will be $960 billion.


Read more: https://www.bloomberg.com/news/articles/2019-09-12/u-s-posts-1-trillion-budget-gap-though-full-year-may-be-lower

[LudwigPastorius]

1. It's OK. Deficits don't matter*

*when there is a Republican in the White House.

[The Liberal Lion]

2. Debt is slavery, debt without an adequate return is lifelong bondage

Debt is being created by this (fake) administration that brings no tangible return. Tax cuts (the biggest factor in this current free spending binge) is bringing no tangible result. Tax cuts are at best little more than sugar high rushes as a economy adjust to increased cash flowing thru the system. it's never a long term investment. Any benefits that may have been gain by the Right's gift to the rich have been erased by the retarded trade war with China. This is the worst kind of debt a government, even when it's a fake government, can make. There is no reinvestment in the country as such no return will be had, and thru the tax cuts only the average citizen pays the price.

[DallasNE]

3. September Is Unique In Another Way Too

Money budgeted is a use it or lose it situation so in September there is a rush to spend unspent funds before they are given back to the Treasury. The Trump wall is one area where extra money will be spent.