Government set to borrow nearly $1 trillion this year, an 84 percent jump from last year
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Title : Government set to borrow nearly $1 trillion this year, an 84 percent jump from last year
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Title : Government set to borrow nearly $1 trillion this year, an 84 percent jump from last year
link : Government set to borrow nearly $1 trillion this year, an 84 percent jump from last year
news-today.world | It was another crazy news week, so it's understandable if you missed a small but important announcement from the Treasury Department: The federal government is on track to borrow nearly $1 trillion this fiscal year — President Donald Trump's first full year in charge of the budget.
That's almost double what the government borrowed in fiscal year 2017.
Here are the exact figures: The U.S. Treasury expects to borrow $955 billion this fiscal year, according to a documents released Wednesday. It's the highest amount of borrowing in six years, and a big jump from the $519 billion the federal government borrowed last year.
Treasury mainly attributed the increase to the "fiscal outlook." The Congressional Budget Office was more blunt. In a report this week, the CBO said tax receipts are going to be lower because of the new tax law.
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That's almost double what the government borrowed in fiscal year 2017.
Here are the exact figures: The U.S. Treasury expects to borrow $955 billion this fiscal year, according to a documents released Wednesday. It's the highest amount of borrowing in six years, and a big jump from the $519 billion the federal government borrowed last year.
Treasury mainly attributed the increase to the "fiscal outlook." The Congressional Budget Office was more blunt. In a report this week, the CBO said tax receipts are going to be lower because of the new tax law.
More
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You are now reading the article Government set to borrow nearly $1 trillion this year, an 84 percent jump from last year With link address https://newstoday-ok.blogspot.com/2018/02/government-set-to-borrow-nearly-1.html