US Economy on Path to ‘Solid’ 2020 Growth; Budget Deficits to Top $1 Trillion
The U.S. economy will grow at a ‘solid’ rate of 2.2 percent this year, the non-partisan Congressional Budget Office forecast on Tuesday, but with federal budget deficits hitting $1.015 trillion.
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Federal budget deficit running 11.8% higher this year
The U.S. budget deficit through the first three months of this budget year is up 11.8 percent from the same period a year ago, putting the country on track to record its first $1 trillion deficit in eight years.
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US Trade Deficit Falls to Lowest Level in More Than 3 Years
The U.S. trade deficit fell in November to the lowest level in more than three years as U.S. exports rose while imports declined, putting the country on track to see the first annual decline in the trade deficit in six years.
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Trump Signs Budget Bill Advancing Religious Freedom Worldwide, Add $400B to Deficit
Friday night, President Donald Trump signed a bill a $1.4 trillion spending package that funds the military and domestic programs, building portions of the border wall and government agencies, including a government commission that monitors religious freedom worldwide.
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Feds Collect Record Taxes Through November; But Still Run $343.3 Billion Deficit With Second-Highest Spending in Nation’s History
The federal government collected record total tax revenues of $470,706,000,000 in October and November, the first two months of fiscal 2020, according to the Monthly Treasury Statement released today.
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Deficit spikes 12 percent in first two months of fiscal year: CBO
The U.S. government deficit rose by 12 percent in the first two months of the 2020 fiscal year, hitting $342 billion, according to new estimates from the Congressional Budget Office.
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