The 2019 U.S. federal deficit increased 26 percent over 2018 and has more than doubled since 2015, the Treasury Department said Friday.
During the 2016 election campaign, President Donald Trump said he'd wipe the federal debt. But it is rising and the deficit is widening.
If President Donald Trump's spending and tax policies continue, a new CBO report found, the U.S. national debt will rise from 78 percent to 105 percent of the economy over the next decade.
America's growing budget deficit will increase debt to the highest level in U.S. history by far, according to the Congressional Budget Office 2018 long-term budget outlook.
Eighty percent of the economic growth generated by the GOP tax cuts will go abroad and benefit foreigners, Congressional Budget Office report says.
"Today's CBO report confirms that major damage was done to our fiscal outlook in just the past few months. This is the first forecast to take into account the recent tax and spending legislation, and it's clear that lawmakers have added significantly more debt on top of an already unsustainable trajectory."
The CBO estimates the Senate's Obamacare repeal would leave 22 million more Americans without insurance. It's only the beginning.
Mick Mulvaney accused the nonpartisan Congressional Budget Office of intentionally showing the Trump administration's health care bill in the worst light.
In Montana and elsewhere, Trump has licensed the dark side of the American psyche.
Waivers added to House Republicans' bill would once again make insurance unaffordable for many with pre-existing conditions, posing a political problem for the GOP.
For a man who is all about being a winner, he is picking some very foolish fights.
Trump repeatedly attacks the institutions we rely on as sources of the truth.
"Some would work fewer hours; others would leave the labor force or remain unemployed longer," the report says.