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New Congressional Budget Office Report Shows GOP Tax Bill Is The Only Reason The Deficit Is Increasing
No…The federal budget deficit definitely is a not a spending problem.
In its just-released monthly budget review, the Congressional Budget Office estimated that the federal deficit for fiscal 2018, which ended a week ago on Sept. 30, was $782 billion, a $116 billion increase over the $666 billion deficit recorded in 2017. CBO said that revenues grew by just $13 billion and so were essentially flat compared with what the government collected in 2017. Spending grew by $129 billion, a 3.2 percent increase over 2017.
It would be easy — but very very wrong — to conclude that the increased spending was the reason the budget deficit rose from 2017 to 2018. After all, revenues were about the same both years while spending was higher.
https://www.dcreport.org/2018/10/08/republicans-are-bleeding-the-government-dry/
No…The federal budget deficit definitely is a not a spending problem.
In its just-released monthly budget review, the Congressional Budget Office estimated that the federal deficit for fiscal 2018, which ended a week ago on Sept. 30, was $782 billion, a $116 billion increase over the $666 billion deficit recorded in 2017. CBO said that revenues grew by just $13 billion and so were essentially flat compared with what the government collected in 2017. Spending grew by $129 billion, a 3.2 percent increase over 2017.
It would be easy — but very very wrong — to conclude that the increased spending was the reason the budget deficit rose from 2017 to 2018. After all, revenues were about the same both years while spending was higher.
https://www.dcreport.org/2018/10/08/republicans-are-bleeding-the-government-dry/
