The U.S. budget deficit through the first four
months of this budget year is up 19% from the
same period a year ago, putting the country
on track to record its first $1 trillion deficit
since 2012.
The Treasury Department said Wednesday in
its monthly budget report that the deficit from
October through January was $389.2 billion, up
$78.9 billion from the same period last year.
The deficit reflected government spending
that has grown 10.3% this budget year while
revenues were up only 6.1%. For January, the
deficit totaled $32.6 billion, compared to a
surplus a year ago of $8.68 billion.
President Donald Trump sent Congress a new
budget blueprint on Monday that projects the