$147 billion budget deficit in May, an increase of 66 percent

[Penelope]

WASHINGTON (Reuters) - The U.S. government had a $147 billion budget deficit in May, an increase of 66 percent from the same month last year as the ledger took a hit from declining revenue and higher spending, according to Treasury Department data released on Tuesday.

Snip

Economists caution that the Trump administration’s corporate and individual tax cuts along with an increase in government spending will drive up the country’s deficit despite a robust economy in which the unemployment rate has fallen to an 18-year low.

The deficit for the fiscal year, which began last October, was $532 billion, compared to a deficit of $433 billion in the same period of fiscal 2017. On an adjusted basis, the gap was $584 billion compared with $473 billion in the prior period.

Unadjusted receipts last month totaled $217 billion, down 10 percent from May 2017, while unadjusted outlays were $364 billion, a rise of 11 percent from the same month a year earlier.

U.S. government posts $147 billion deficit in May

Great news though:
Ivanka and Jared made 82 million in outside income, will make many of you so very happy.

 

[yiostheoy]

WASHINGTON (Reuters) - The U.S. government had a $147 billion budget deficit in May, an increase of 66 percent from the same month last year as the ledger took a hit from declining revenue and higher spending, according to Treasury Department data released on Tuesday.

Snip

Economists caution that the Trump administration’s corporate and individual tax cuts along with an increase in government spending will drive up the country’s deficit despite a robust economy in which the unemployment rate has fallen to an 18-year low.

The deficit for the fiscal year, which began last October, was $532 billion, compared to a deficit of $433 billion in the same period of fiscal 2017. On an adjusted basis, the gap was $584 billion compared with $473 billion in the prior period.

Unadjusted receipts last month totaled $217 billion, down 10 percent from May 2017, while unadjusted outlays were $364 billion, a rise of 11 percent from the same month a year earlier.

U.S. government posts $147 billion deficit in May

Great news though:
Ivanka and Jared made 82 million in outside income, will make many of you so very happy.

More tax cuts for the rich.

Same program as Mitt Romeny wanted.

Same as Dubya wanted and got.

Same as Reagan wanted and got.

McCain did not want more tax cuts for anybody however he got tripped up by his speech "The fundamentals of the economy are sound!" just 2 weeks before the crash on Wall Street which heralded the great recession of 2008 - 2015.

GHW Bush raised taxes but mostly on the middle class and working poor.

 

[CrusaderFrank]

Democrats want an economy powered by unemployment checks

 

[CrusaderFrank]

I'll bet that by the end of his second term, Trump will be the first President since Coolidge to pay down debt

 

[CrusaderFrank]

I'll bet that by the end of his second term, Trump will be the first President since Coolidge to pay down debt

Comeon Bodey, take the bet