US budget deficit topped $1 trillion in 2019 for the first time in seven years
“The budget shortfall hit $1.02 trillion for the January-to-December period, a 17.1% increase from 2018, which itself had seen a 28.2% jump from the previous year.”
USAGOLD note: And that’s the political deficit, i.e., the one the politicians and government bureaucrats reference. The real addition to the national debt was over $200 billion more – or $1.258 trillion. The national debt stood at $23.2 trillion on December 31, 2019 – up 5.7% on the year.
Cartoon courtesy of Scot Stantis