White House Budget Proposal Projects Growing Federal Deficit
Tuesday, 13 February 2018 President Trump's budget would cut funding to the State Department and reduce spending on Medicare and Medicaid — while increasing military spending. It also projects a large federal deficit.
The federal deficit jumped to its highest rate in six years at 17 percent. Although the reasons for the surge vary among Democrats and Republicans, increased government spending and heavy tax cuts are..
According to Politico, the federal budget deficit under President Donald Trump swelled to a six-year high.
Data released by the US Treasury Department indicates that the deficit widened in fiscal 2018..