The federal government collected $2.74 trillion in taxes in the first 10 months of fiscal year 2017, but the federal government still ran a $566 billion deficit during that time, according to the latest monthly Treasury Department statement.
President Donald Trump’s proposed budget for 2018 would reduce the deficit over the next decade by $160 billion and increase GDP at the same time, according to an analysis from the Congressional Budget Office.
The Treasury is set to run out of cash in October, which may lead to a default on debt obligations or payment delays for government programs, according to a report from the Congressional Budget Office.
The federal government collected approximately $2.17 trillion in taxes in the first eight months of fiscal year 2017, but the federal government still ran a $432 billion deficit during that time, according to the latest monthly Treasury Department statement.
Repealing the Affordable Care Act could reduce the deficit by as much as $1.07 trillion, according to a report from the Mercatus Center.
The annual federal budget deficit is larger than expected and is now projected to reach $590 billion, according to estimates from the Congressional Budget Office.
The deficit is estimated to more than double in 10 years, which is projected to push debt held by the public up to 77 percent as a percentage of Gross Domestic Product (GDP), according to Congressional Budget Office (CBO) estimates.
The federal government collected a record amount of taxes in the first 10 months of fiscal year 2015, exceeding $2.6 trillion in revenue, according to the latest monthly Treasury Department statement. Despite the record revenue, the federal government ran a deficit of $465 billion.
The Obama administration’s student loan program had a shortfall of nearly $22 billion in 2014–the largest of any government credit program in history. I found something odd buried in the Obama budget: a $22 billion student loan bailout. http://t.co/zZyzrbf30e via @POLITICO — Michael Grunwald (@MikeGrunwald) February 5, 2015 Politico reported Thursday that the shortfall comes from Obama’s …
