The Trump Tax Effect: Budget Deficit Increases 15% Over Same Time Last Year

As the wealthy enjoy generous tax cuts, the government is spending more than it is taking in.

Bloomberg reports:

“The U.S. budget deficit widened to $691 billion in the first half of fiscal 2019 as spending outpaced an increase in revenue, highlighting the continued fallout on the government debt from President Trump’s tax cuts and the effects of an aging population.

The budget gap increased 15 percent compared with the same October-March period a year earlier, according to the Treasury Department’s budget report released Wednesday.

Receipts for the six-month period rose 0.7 percent while spending jumped 4.9 percent.”

For the rest of the story, visit Bloomberg here.

Subscribe to the Nations largest union directory and blog site!


By submitting this form, you are consenting to receive marketing emails from: Senders Communications Group, 21201 Victory Blvd. #235, Canoga Park, CA, 91303, http://www.sendersgroup.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Featured Posts:

The Good Fight: Organizing the House of Mouse

This is part of a series highlighting the efforts of organized labor and featured in Labor 411's print directories. Click ...
Read More

Here Is How All 50 States Rank In Union Density. Spoiler: The Carolinas Are The Worst

1. Hawaii • Pct. of workers in unions: 23.1% • Change in union membership (2008-2018): -1.2 ppt. (25th largest decrease) • Union ...
Read More
The Westin

Leave a Reply