Report shows US deficit to exceed $1 trillion next year

WASHINGTON — The federal budget deficit is expected to balloon to more than $1 trillion in the next fiscal year under the first projections taking into account the big budget deal that President Donald Trump and Congress reached this summer, the Congressional Budget Office reported Wednesday.

The return of $1 trillion annual deficits comes despite Trump's vow when running for office that he would not just balance the budget but pay down the entire national debt.

http://www.startribune.com/report-shows-deficit-to-exceed-1-trillion-next-year/557748062/