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

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

13.1.2020

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

The budget shortfall hit $1.02 trillion for the year, a 17.1% increase from 2018, which itself had seen a 28.2% jump from the previous year.

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.

For the fiscal year, which began in October, the shortfall is already at $356.6 billion, an 11.7% increase from a year ago. If that pace continues it would also lead to a fiscal deficit for 2019-20 of more than $1 trillion.

President Donald Trump had vowed that his stimulus policies, including massive corporate tax cut and aggressive deregulation, would help stem the red ink coming from Washington, but it has only increased. As deficits have swelled, so has the national debt, which is now at $23.2 trillion.

Read more: CNBC

Tentoads4truth If a Democrat was in office the hysteria about presidential malfeasance would be 24/7 Headline ignores Trump’s promise to end deficit. So you're saying putting the same con man who bankrupted 6 casinos in charge of government spending was a bad idea? 🧐 BS under Obama it top $1 trillion for the first time

Divided up, about $3K of that is on me, and I don’t want it. 🙀 _Carja but billionaires are happy, that's all that matters. When does child labor and indentured servitude come back? Oh, wait, we already have that, it's called paying student loans back. Never mind.... JohnJHarwood Thank you PaulRyan there go those republicans, not contributing to the deficit again

PattyLehner I don’t get why this is not a bigger campaign issue. realDonaldTrump SenateGOP HouseGOP senatemajldr GOPLeader ineffective albatross trickle down economics brought to you by unnecessary tax cuts for the very wealthy on the backs of the middle class and future generations. Watch what they do not what they say.

JohnJHarwood senrobportman Way to go!

Michael Bloomberg Is Open to Spending $1 Billion to Defeat TrumpMichael Bloomberg said he would mobilize his well-financed political operation behind the eventual Democratic nominee, even if it was someone he has sharp policy differences with, like Bernie Sanders or Elizabeth Warren Don’t know if Bernie or Warren would be open to that looking at the fact they don’t any money from billionaires. All the money in the world won’t help him beat Trump lol Bloomberg can take his money and stick it right up his ass

JohnJHarwood gop gop realDonaldTrump TeaParty It was all a ruse for 8 years crying about the deficit from these jackwagons. Today not a peep. You can safely assume ANYTHING they say they believe in or stand for is non-existent JohnJHarwood Obama is selling away your children’s futures!!! Hello! JohnJHarwood MAKE AMERICA BROKE AGAIN MABA

JohnJHarwood Republicans add to the deficit while democrats reduce or completely eliminate it, yet the GOP is seen as the fiscally responsible party Cutting subsidy for illegals would be a nice first step. The tax cut is great, but it should be followed by reducing spending. That last part is the hardest one. Especially when you got a lot of people enjoying those subsidy without really contributing.

Where are the 'Conservatives' on this? Personally deeply concerned I’ve said it before and I’ll say it again, where’s the tea party? The GOP has never been the party of fiscal conservatism. ...tax payers' money is being spent on the POTUS' travels not just for him but his entitled family. In the meantime the country is suffering.

Chris Hemsworth Announces He's Donating $1 Million to Australian Wildfire Relief'We’re really still in the thick of it here, as there’s plenty of challenging times ahead and still to come.' Its a very good thing Hats off😁🤠🤠 The man is sooooo sexy

And the irony it is happening when the economy is doing well and per POTUS ' perfect'. This is when we should be bringing in more revenue to serve the underserved class and rebuild infrastructure. But.... SpeakerRyan, you wanna come out of hiding to explain how your tax cuts did not pay for themselves? realDonaldTrump, maybe you want to take a stab at it?

RepublicanHypocrisy BuT tHe StOcK mArKeT The true American dream: borrowing money to appear to be wealthy. TrumpEconomyROCKS Waiting for the libertarians to raise hell. Tea Party? Umm Tea Party? Where are you old bats? Oh wait the brown guy isn't in office so who cares huh? fuckers Where are my fiscally conservative MAGAt's at?

Oh MAN, the Tea Party will be all over this! They’re gonna put in their tri-corner hats and MARCH, just you wait! PaigeAllbee (Sarcastically saying) thanks tRump. CriminalTrump DerangedDonald ChristiansAgainstTrump VeteransAgainstTrump TrumpsLiesMatter

Chris Hemsworth Announces He's Donating $1 Million to Australian Wildfire Relief'We’re really still in the thick of it here, as there’s plenty of challenging times ahead and still to come.' Well done . Australia really need help. Thank God for people like you who are helping to make the world a better place. God bless you more .

gtconway3d realDonaldTrump adding to the National Debt during a Bullish Economy. This is really bizarre as we have had a steady economy for about 10 years. If there is even a small recession, the annual budget deficit that is now over 1 trillion is going to explode to unprecedented levels. Does the Tea Party only protest gov. spending if the Pres is a Dem.

Where are all those tea party assholes? Oh that's right! The president isn't black. Another tlump record Sifill_LDF Upon hearing this news, all the Tea Partyin’, Big Gubmint hatin’, Freedumb Caucus white boy Republicans dusted off their tri-corner hats and drums and fifes, and went to the National Mall to protest big-spendin’ Socialist President Barack Hussein - oops - I mean Donald J. Trump

Sifill_LDF What’s the deal freedomcaucus? You have betrayed every public tenet of your movement, I guess the unsaid White Nationalism just Trumped all those good principles. TraitorRepublicans Sifill_LDF Well done Trump Where’s the Tea Party at! We have reached the point where an interest rate rise will squeeze out all discretionary spending from federal budget with 22 Trillion in debt. Fed Reserve has Hobson’s choice/Morton’s fork ,if inflation is an issue, because of leverage

Fiscal Conservatives my ass. And didn't tRump* campaign on removing the national debt? GOPTaxScam TrumpTaxScam *Impeached ImpeachedForLife ImpeachedForever

Chris Hemsworth Announces He's Donating $1 Million to Australian Wildfire Relief'We’re really still in the thick of it here, as there’s plenty of challenging times ahead and still to come.'

viphires In a strong economy, our deficit should be dropping. But Trump is financing the boom by putting the burden of this economy on our kids and grandkids and limiting available tools to handle future recessions. A bit dated, it is even worse now.👇 But joe from SquawkCNBC says trump is reducing debt. Lying for his king.

gtconway3d Yeah, but my Trump Formula 409(k)KK is doing great! BenSasse so much winning🙄 Newyorker2212 Republicans starting wars to get re elected is getting a little too expensive to maintain. Let's stop it. Just. Stop. 🤔 gtconway3d ... and that is without a big ticket war, a financial crisis or exessive spending on infrastructure...

gobidad11 '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.' Remember those numbers for when people bring up the 'good' economy. gtconway3d I am not good in economics but how can „the richest“ country in the wold have a debt at all.? It is like saying Bill Gates has defaulted?

gtconway3d .GOP 👏👏👏👏👏👏👏

Google Parent Alphabet Set To Hit $1 Trillion In Market ValueGoogle parent company, Alphabet, is about to join the $1 trillion club by skleb1234 NaijaFlyingDr skleb1234 $1tir skleb1234 $amzn $tsla $aapl $fb $googl Harvard $MIT satellite/Species trade off Rocket heads rocket head with own too. skleb1234

so much winning! Defending the country against guided space launch nuclear missiles is definitely the most expensive technology. Without such defense, the country is without protection. Thanks GOP gtconway3d Thanks Donnie Thanks GOP JxnFreePress MSFreePress MSTODAYnews sunherald clarionledger WLOX wxxv

gtconway3d Waiting to hear from a rational Trump supporter how they feel about this When people point to current GDP growth numbers without factoring in the contribution of $1T in deficit spending to achieve that growth... it upsets me. GDP=C+I+G +(X-M) Total GDP =~$19T. A trillion dollars added to the govt spending (G) column moves the needle.

FrancisWegner Thank you Donald J Trump for your Vanity Wall and all the money you have stolen to build it. gtconway3d Way to go! Winning and Winning Biggly!

2019 Global Box Office Revenue Hit Record $42.5B Despite 4 Percent Dip in U.S.While moviegoing in North America in 2019 couldn't match 2018's record haul, revenue of $11.4 billion still represented the second-best showing of all time

realDonaldTrump sucks maga morons gtconway3d In a strong economy this is looting, plain and simple. gtconway3d gtconway3d So much winning🤮 That’s bad! gtconway3d So much winning. gtconway3d Largely due to costs related to Trumps’s Tariffs. gtconway3d Borrow and spend Republicans. Sad! gtconway3d Thanks realDonaldTrump ! Great job MakingAmericaPoorer

Patta47cake WHO COULDA SEEN THIS COMING, OH, RIGHT, A BANKRUPTCY CON How? But we have the best economy in the history of our country. gtconway3d realDonaldTrump Because the tax bill produces so much growth, it would be budget neutral for $1 trillion, Alex gtconway3d The small-government, fiscally-conservative Republican party is going to go crazy when they find out... 😬

gtconway3d This is what the GOP always does. It’s the Reagan playbook. Cut taxes, run a huge deficit like a drunk college kid with a credit card and then hand the resulting shitshow to the Dems who then fix it. Remember the time you reported 30 dead American soldiers in Iraq? Yeah that was awesome. So accurate.

gtconway3d Hmmm 7 years? So President Obama inherited a deficit, REDUCED the deficit, handed it over to realDonaldTrump who INCREASED it? I could be wrong but.... iamtheamericanpeople

Jellythecoolest Trump is setting up a massive casino. gtconway3d Add another asterisk next next to his name. iamtheamericanpeople gtconway3d And another Trump lie can be added to the count. RepJohnKatko said tax cuts would pay for themselves. That’s how he and other Republicans justified their support. NY24 Wrong again Congressman.

gtconway3d Does realDonaldTrump know? gtconway3d SenPatRoberts JerryMoran RepRonEstes Congratulations! Remember when Republicans cared about the deficit! This will be your and realDonaldTrump’s legacy! gtconway3d So much winning. As a share of gross domestic product, though, the total deficit will only be about 5%, compared with double that in the recession.

catalishus2 Trump will blame Obama..........of course. gtconway3d The mess that next president will inherit from u Mr garbage realDonaldTrump

gtconway3d And the reason isn’t because they’re trying to save our economy, housing, auto industry, or healthcare. It’s because we handed the keys to an idiot. Where are all those deficit hawks that lost their mind 2008-12. Obama created job, cut the deficit, made our air/water cleaner, helped people get health insurance, pulled us out of a huge recession. Its clear now they didn’t like him cause he is an intelligent black man!

gtconway3d Hey, making America great again is expensive. Still, this doesn't even include infrastructure or wonderful healthcare. So much for the winning eh realDonaldTrump? More of your policies that shrink the middle class and enrich the 1%. Glad the GOP cares about fiscal responsibility. Obama isn’t president anymore so no one cares, not even Democrats.

Thank you trump by stealing from the poor and middle class and throwing money to the wealthy who don’t need it - bankrupting America and screwing over the 99%ers - you made sure you pimped the Oval Office for your personal gains Meanwhile several countries in EU, among others, Sweden and Germany went with record surpluses..

gtconway3d So much winning IMPOTUS gtconway3d People are saying it’s the best deficit ever! Thank you! gtconway3d That is balanced budget for you, like snow on White House yesterday.

gtconway3d This is on a GOP watch. No excuse. gtconway3d And yet trump campaigned saying that he would eliminate the deficit Where are all the Tea Party GOP folks that were holding America hostage for a balanced budget amendment during the debt ceiling crisis back in 2011? Not good. gtconway3d MAGA2020

gtconway3d 😡😡😡😡 gtconway3d But “Conservative Republicans” are in the Oval Office, the majority in the Senate, and until a year ago were the majority in the House? How can this be? Those of us with half a brain: gtconway3d The Stupid Party in action! gtconway3d gtconway3d Trum is bankrupting us, like he did his businesses. He will leave this country in a fucking mess.

gtconway3d Another promise made, promise ke... oh hang on... gtconway3d WOW!!! Congrats Republicans! You did it!!! On behalf of your children, and grandchildren, let me thank you for adding to the debt they will have to pay-off once you’re long gone. Any guesses what the tax rates will have to be in the future to create discretionary spending?

Winning! Are you tired yet? gtconway3d Trump, the great deal maker is turning the U.S into the Taj Mahal...bankruptcy. Between stupid spending and the family trips. gtconway3d MAGA 🤷‍♂️ gtconway3d So Obama shrunk the debt. I get it now, it’s just another Obama accomplishment for him to undue. Thanks boomer

gtconway3d Loving the GOP budget hawks ... thank god we aren’t Socialist too giving out a multi billion dollar bail out to farmers like past administrations! gtconway3d gtconway3d Why aren’t Republicans up in arms about the deficit? They are not conservatives. Republicans are thieves, dirty thieves.

gtconway3d All thanks to the big bafoon running the country How much debt are we in for his unlimited trips to his golf courses every friggin weekend? gtconway3d and it's all on the backs of the middle class and average Americans because of the Trump and GOP tax cuts for the rich and the corporations

gtconway3d I thought the tax cuts were supposed to pay for themselves... gtconway3d I'm no financial expert, but I'm told that the highest budget deficit in history is only a bad thing if government spent the money on dumb, useless s*it. gtconway3d What happened to fiscal conservatives gtconway3d Thanks realDonaldTrump

gtconway3d good job gop & trump! so when a democratic president takes over don't be complaining about the deficit that YOU created. gtconway3d Don't worry MAGAt's! Mexico will be paying for it! gtconway3d Something else to brag about GOP GOPChairwoman realDonaldTrump

gtconway3d Not that the GOP cares now.... gtconway3d What happened to all those republicans that were so cheap they would squeeze a nickel to make the buffalo shit SenSasse SenatorFischer Are you good with this? This happened on your watch...you contributed to this headline. amanda_m_macias Democrat congress.

Congress should cut spending. trillion$trump Score? TheEliasRework No surprise there. The 1% don’t pay taxes including realDonaldTrump the average person are paying higher taxes and our middleclass is disappearing. We are a country with the majority working 2 or 3 jobs and still can’t afford medication. We are now a nation of the working poor

I admit 23 Trillion Deficit, needs some major attention. realDonaldTrump Would love to hear the plan to bring that down. crampell Winning

Brought to you by the party of fiscal responsibility and balanced budget amendments. GOP Usefulnotes_ How we gonna pay for it? Thank You DJT ! And today’s gop couldn’t care less!! Where’s the Tea Party? It’s almost like there was something else about Obama that Rs didn’t like.... Remember when republicans were in deficit hysteria under Obama? What an entertaining bit of Kabuki theater THAT was!

Oh look! The Republicans handy work...what's next, driving the country into recession? Financial crisis is inevitable in 2020 unless they keep printing the $$$$ out of thin air.

Trumpism. So much winning I care barely stand it. Funny when it's a GOP president not a Fiscal CONservative in sight. TeaPartyPatriot Teapart ETeaparty25 teapartynews teapartynation teaparty TeaPartyBeauty TeaPartyHub Hazam_13 Congrats to all of us. Fiscal Conservatives? MAGA HAS THE TEA PARTY SEEN THIS? They are going to explode in rage when they do

Those tax cuts working their magic. Budget deficit should go down in a good economy. Imagine what happens in a bad economy. I'm sure this is Obama's fault somehow. 🙄 Republicans only care about deficits when the President is a Democrat. VoteAgainstEveryRepublican TheResistance Resistance Resist metaquest NO!!!! You're saying that the 'Tea Party' was never about the deficit and always about the racism!

GOPTaxScam But the tax cuts were gonna pay for themselves. That dude in the WH doesn't care about the National Debt. 1T Warren, cause she's the financial genius ....ewarren MSNBC USDEBT Ravenworks Value: {-$3,079,834,229.65} morten ImpeachedTrumpKingOfDeficit How’s that as a percentage of GDP? And where does that measurement rank?

Wake us up when someone actually starts doing something about it. Dickinsonia4 This should absolutely NEVER happen during a so called strong economy. Something is very wrong here. Coincidentally the US private sector surplus grew by the same amount. It's not about the number, its about what the money is spent on.

GOP strategy = spend tons of money we don't have to support Trump's ideas & give big donors tax breaks. Win 2020 election, THEN bitch about how Dems ran up the deficit & GOP has to cut spending. RIP social security/Medicare. Healthcare is perfect & global warming is fine as it is

Hmmm, where is realDonaldTrump's self-congratulatory tweet on hitting this milestone? Seems he does not feel it is something to brag about? crampell Every time a Republican gets in the WH the GOP runs up the debt with military spending and huge tax breaks for their wealthy donors and the corporate class. The second a Dem is in the WH it’s all “OMG!!! The debt! It’s out of control!” And Dems have to fix it.

Don't worry Trumpers, you got that tax cut...oh wait... NateRockQuarry WINNING!! MEGA!! crampell Maybe we can go through Lending Tree and refi to a lower interest rate, 30 year fixed. The federal government created $1 trillion in new currency necessary for economic expansion. Great! We should make more and use it to pay for health care, education and infrastructure. The banking industry made $14 trillion in new bank credit this year....

Massive tax cuts for corporations and the wealthy will pay for themselves. Where are the Tea Party marches? They're waiting for a Democratic President like they always do. Well ya know what a great man once said...

Winning! Goose42 Kookster24 Thanks g42. Where did the tea party go? LiamWBZ dnc BarackObama took the National Debt from 9 Trillion to 21 Trillion in 8 years! So, where are all those tea party people? arthursmith So much 'winning'... Running up massive deficits in the middle of economic expansion, what could go wrong?

And unlike Obama, Trump isn't spending to get us out of a deep recession dirty secret- it's why the economy keeps going up. if you keep spending, you keep growing.. they wanted Obama to simultaneously grow the economy + cut the budget. accomplishing the 2nd means the 1st has to go much slower. Republicans used to care about this issue.

Expecting the GOP to be really pissed at this. Right?

So much winning! MAGA. How you doing GOP? A well known Swiss Newspaper compared Trump with Mr. Corleone today. Thank you realDonaldTrump ! Yes, I am tired of this 'winning' Republican TaxScam Thank you tRump voters 🖕🏻 Lulz Get it GOP So it's been there before, eh? Or did I misunderstand the headline? Slim.

And I used hear ' this is terrible we need a change' happy now Cc: carldemaio All while economy is supposedly going well. This is a financial disaster waiting to happen.

The tea party must be up in arms... If you think that is bad just wait until a Democrat gets elected. Free this and free that. How much will Healthcare, free college and forgiving student debt, climate change raise the debt? Interesting that CNBC is interested in deficit when a Republican is Pres. Don't get me wrong I think Budget Deficit should have been a priority 30 yrs ago. Doesn't the budget start in the house? Democrat run house? Then to Senate and last to President?

trunp wrecks ja all dwjouski During a time with NO RECESSION. 🤬GOPAreShamelessGrifters GOPTaxScam not working out so well Is it possible that China could be the biggest economy on eatlrth in 5 years' time? Crisis! The US gov't is spending like a drunken sailor! $23.179 trillion in national debt. Budget of $1.4 trillion. Deficit of at least $1.1 trillion expected. Defense budget of $738 billion. Deficit spend on interest over $650 billion expected.

Trump is out of control. Republicans complained about Obama for 8 years and he reduced the deficit. Republicans are a joke a sham.

What a joke. TOTALLY FAKE MARKETS BULLISH! You can double that when the recession inevitably hits. gold How quickly we forget.. Remember when those Republican Conservatives went batshit over this...what happened. Oh yeah....trump. GOP JimJordanJacket yet you have the best manager of the world as president

How will the DemocraticDebate out a negative spin on this ...

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