Deficit Will Top $1 Trillion per Year by 2020

The CBO reported that America’s deficit is growing sharply and will surpass $1 trillion per year by 2020, according to the Washington Post.

“The federal deficit will hit $804 billion in fiscal year 2018, a 21 percent increase from 2017’s deficit of $665 billion.”

“President Trump and congressional Republicans in December passed a new tax law projected to cut government revenue by more than $1 trillion over the next 10 years. In March, members of both parties approved a funding measure to increase military and domestic spending by nearly $300 billion over the next two years.”