“The White House budget office now estimates that the deficit will rise to nearly $1.1 trillion in the fiscal year that begins this October, or 5.1% of gross domestic product, up from $984 billion projected in February’s budget proposal. The U.S. ran a deficit of $666 billion for the fiscal year that ended Sept. 30, 2017, or 3.4% of GDP.”

Read more: https://www.marketwatch.com/story/us-deficit-now-projected-to-top-1-trillion-starting-next-year-2018-07-19

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