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Fiscal 2018 budget deficit up 17% to $779 billion Fiscal 2018 budget deficit up 17% to $779 billion
The U.S. federal budget deficit rose in fiscal 2018 to the highest level in six years as spending climbed, the Trump administration said Monday.
The deficit jumped to $779 billion, $113 billion or 17 percent higher than the previous fiscal period, according to a statement from Treasury Secretary Steven Mnuchin and Office of Management and Budget Director Mick Mulvaney. It was larger than any year since 2012
Since when did Democrats start caring about running a deficit
Ask a Democrat, but it seems they were able to reduce them year after year, so maybe they do care. Now, however, the future projection is they will rise and remain over $1 trillon per year.
We haven't seen anything yet when it comes to deficits.
The appetite isn't even there for small reduction in discretionary spending. There is little appetite either for tax increases.
Medicaid spending will rapidly increase from America's high calorie and low amount of physical activity and as seniors age many will go into nursing homes with Medicaid.
Medicare spending is going to rapidly increase in the next decade.
Social Security spending will also skyrocket as baby boomers retire more and more. I believe the biggest cohort of boomers was born in the mid 1950s to early 1960s.
Only one year of baby boomers will not be of full retirement age compared to 12 or 13 years of baby boomers who aren't of full retirement age today.
Also, there is going to be much more pressure to spend during the next recession and less revenue.
Since when did Democrats start caring about running a deficit
Since when did Republicans stop caring about running a deficit?
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