At $984 Billion, The 2019 Federal Deficit Is The Highest In Seven Years

Official White House Photo by Joyce N. Boghosian/Public Domain


The Congressional Budget Office has said the current federal deficit situation is "unsustainable" and must be addressed.

The federal deficit for the year is estimated at $984 billion, according to the Congressional Budget Office, marking the highest deficit in seven years.

The Hill reported on Monday that the gap between federal revenue and spending has only topped $1 trillion four times, all of which followed the global financial crisis.

That gap has widened every year for the past four years, with a 26 percent increase between 2015 and 2018.

Following the CBO report this week, Jason Pye, vice president of legislative affairs at the conservative group FreedomWorks, echoed prior CBO warnings that the situation is “unsustainable” and “only going to get worse.”

"Democrats and Republicans must be held responsible for the outrageous deficit reported today by the CBO," he said.

"This unsustainable situation is only going to get worse," he added.

Read the full report.


Economics, Finance and Investing