A Surprise Trillion Dollar Deficit

According to the Congressional Budget Office, the federal government’s budget deficit for the first 11 months of its 2019 fiscal year was $1.067 trillion. During these months, the CBO reports, “revenues were $102 billion higher and outlays were $271 billion higher than in the same period in fiscal year 2018.”
It’s funny how the U.S. government can somehow collect a hundred billion more in taxes and yet still see the federal budget deficit grow even larger.

But there’s good news, because the CBO also expects the federal budget deficit to shrink so much during September that the government’s full 2019 fiscal year

Read more at The Independent Institute