US budget deficit topped $1 trillion in 2019 for the first time in seven years

CNBC/Jeff Cox/1-13-2020

Cartoon of giant pig representing U.S. deficit“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

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