The US Just Posted Its Biggest One-Month Deficit In Its Entire History

JuliaGlazer

The United States just posted it’s biggest one-month deficit in its history courtesy of Trump’s tax cuts.

Business Insider reports that the U.S. has just posted the biggest one-month deficit in history. The budget deficit for February was $234 billion, topping the previous high of $231.7 billion from 2012. The deficit has been driven higher by new laws, such as Trump’s Tax Cuts and Jobs Act.

The TJCA has depleted the treasury, causing revenues to fall precipitously. If another national emergency like 9/11 arises, the U.S. will have much fewer resources to draw upon.

The deficit is also rising due to the bipartisan budget compromise in 2018. Spending in the beginning of the fiscal year 2019 was up 9% compared to the last fiscal year.

For the full year of 2018, the deficit hit $779 billion, the highest it has gone since 2012. The Congressional Budget Office and the president predict that the deficit will reach $1 trillion by 2022.

Read the full story here.

Comments (2)
No. 1-2
joeching
joeching

reagan was an ape-brain, bush jr was a born loser, and trump will finally end the misery by selling america out once for all.

Phantom 154
Phantom 154

Trump is far dumber than them all. It's not even up for discussion.


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