U.S. budget deficit jumps 34% in October, gap set to top $1 trillion in 2020

MarketWatch/Jeffry Bartash/11-13-2019

“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.

Overlay chart showing the growing gap between US federal government receipts and expenditures

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