Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Tax cuts, increased spending drive increase in federal deficit

 


WASHINGTON - The federal budget deficit ballooned rapidly in the first four months of the fiscal year amid falling tax revenue and higher spending, the Treasury Department said Tuesday, posing a new challenge for the White House and Congress as they prepare for a number of budget battles.

The deficit grew 77 percent in the first four months of fiscal year 2019 compared with the same period one year before, Treasury said.

http://www.startribune.com/tax-cuts-increased-spending-drive-increase-in-federal-deficit/506742082/


 

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