U.S. budget deficit jumps 34% in October, gap set to top $1 trillion in 2020
“The federal government’s budget deficit in October rose 34% from a year earlier to $134.5 billion, putting the U.S. on course to top the $1 trillion mark in fiscal 2020 for the first time in eight years.”
USAGOLD note: Spending is increasing. Revenue is decreasing. The budget gap is widening. One congressman said recently that deficit hawks are about as fashionable as bell bottoms.