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U.S. Budget Surpasses Last Year's Total


The Primary: With two months left in the fiscal year, the U.S. budget deficit has already surpassed last year's total, per Bloomberg.

  • Who? What? Why?: The deficit is up 27 percent from the same point last year, according to Axios. The deficit now sits at $866.8 billion in the first 10 months of 2019.

  • The Baseline: The GOP tax plan and increased government spending are driving the ballooning deficit. The recently agreed upon two-year budget will also increase government spending.

  • From the Left: James Downie of the Washington Post calls Republicans hypocrites. "The truth is that when push comes to shove, deficit reduction is way down Republicans’ priority list," he argues. Still, Downie doesn't think we should even worry about the growing deficit. "Deficit hawks’ fears have not come to pass," he adds.

  • From the Right: David Frum of The Atlantic says the way to improve the economic outlook is to reduce the deficit and end the trade wars. "It's not too late to change course," he tweets.

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