Budget office: U.S. federal deficit will top record $1 trillion

Budget office: U.S. federal deficit will top record $1 trillion

This year’s federal deficit is projected by the White House Office of Management and Budget to surpass the $1,000,000,000 mark — virtually the highest it has ever been. Despite the alarming deficit projection, the office also projected continued, strong economic growth due to President Donald Trump’s policies. Nevertheless, CEO Michael Peterson of the Peter G. Peterson Foundation remarked recently, “The mid-session review is just the latest reminder of the dangerous fiscal path that we’re on — and it drives home the point that we are missing a valuable opportunity to start managing our debt during a time of growth and high employment”.

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