Stay in the Loop

We are thrilled to extend a warm welcome to you as a valuable member of our vibrant crypto community! Whether you're an experienced trader, a crypto enthusiast, or someone who's just getting started on their digital currency journey, we're excited to have you onboard.

Read & Get Inspired

We're delighted to have you here and embark on this exciting journey into the world of Wikibusiness. Whether you're a newcomer or a seasoned explorer in this realm, we're dedicated to making your experience extraordinary. Our website is your gateway to a treasure trove of knowledge, resources, and opportunities.

PrimeHomeDeco

At PrimeHomeDeco, we believe that your home should be a reflection of your style and personality. Our upcoming website is dedicated to bringing you a curated selection of exquisite home decor that will transform your living spaces into elegant sanctuaries. Whether you're looking to revamp your living room, add a touch of sophistication to your bedroom, or create a cozy and inviting ambiance in your dining area, we have just the right pieces for you.

Trump promised to eliminate Americas budget deficit. But government spending just pushed the 12-month total past $1 trillion for a 2nd straight month.

deficitAP Photo/Jacquelyn Martin

  • The US budget deficit continued to swell in November as Washington continued to spend more than it collected in revenue.
  • The 12-month deficit came in above $1 trillion for a second month in a row.
  • Lawmakers typically have more tools to reduce the national debt when the economy is in a solid place, but recent legislation has taken it the opposite direction. 
  • Visit Business Insider’s homepage for more stories.

The US budget deficit continued to swell in November as Washington continued to spend more than it collected in revenue despite solid economic growth.

The gap between federal expenditures and receipts grew to $209 billion last month, the Treasury Department said in its monthly budget statement Wednesday. In the same month last year, the government budget deficit was $205 billion. 

The 12-month deficit came in above $1 trillion for a second month in a row. Since the start of the fiscal year in October, the gap has grown 12%. 

Receipts increased 3% in that period to $471 billion, partly because of calendar quirks that shifted the timing of payments. Outlays rose by 7% to $814 billion, boosted by health care and retirement programs. 

Lawmakers typically have more tools to reduce the national debt when the economy is in a solid place. As a candidate in 2016, President Donald Trump promised to eliminate the deficit within eight years.

But it has continued to jump in the wake of recent legislation, including $1.5 trillion tax cuts that the president signed into law during his first months in office. 

The GOP had initially argued that lower taxes would lift the economy enough to make up for the loss in federal revenue. But key Republicans have since walked back the long-standing claim that the 2017 package would pay for itself. 

A bipartisan budget agreement reached in August lifted the debt ceiling and increased spending by about $320 billion. That would amount to a $1.7 trillion increase in projected debt levels over the next decade, the Committee for a Responsible Federal Budget estimated.

Related articles

Dugi World of Warcraft Guides

Product Name: Dugi World of Warcraft Guides Click here to get Dugi World of Warcraft Guides at discounted price while it's still available... All orders are protected by SSL encryption – the highest industry standard for...

Super Affiliate Marketing Mastery

Product Name: Super Affiliate Marketing Mastery Click here to get Super Affiliate Marketing Mastery at discounted price while it's still available... All orders are protected by SSL encryption – the highest industry standard for online security...

One of the Largest Tattoo Design Collections and Resources Online!

Product Name: One of the Largest Tattoo Design Collections and Resources Online! Click here to get One of the Largest Tattoo Design Collections and Resources Online! at discounted price while it's still available... All orders are...

SpanishVIP: Unlimited Live Online Spanish Classes (Insane Commissions)

Product Name: SpanishVIP: Unlimited Live Online Spanish Classes (Insane Commissions) Click here to get SpanishVIP: Unlimited Live Online Spanish Classes (Insane Commissions) at discounted price while it's still available... All orders are protected by SSL encryption...

Legendary Potency – Forbidden Secrets of Most Potent Men in History

Product Name: Legendary Potency - Forbidden Secrets of Most Potent Men in History Click here to get Legendary Potency - Forbidden Secrets of Most Potent Men in History at discounted price while it's still available... All...
[mwai_chat model="gpt-4"]