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Monday, October 28, 2019

Deficit Nearly a Trillion Dollars

From the Treasury:
U.S. Treasury Secretary Steven T. Mnuchin and Office of Management and Budget (OMB) Acting Director Russell Vought today released the final budget results for FY 2019. The deficit in FY 2019 was $984 billion, $205 billion more than in the prior fiscal year but $16 billion less than forecast in the FY 2020 Mid-Session Review (MSR).[1] As a percentage of GDP, the deficit was 4.6 percent, 0.8 percentage point higher than the previous year.[2]