Trump's First Annual Budget Deficit Will Be the Widest Since 2012
- Outlays exceeded revenue in fiscal 2018 by $782 bln, CBO says
- U.S. Treasury is scheduled to publish official data next week
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The U.S. budget deficit expanded to an estimated $782 billion in Donald Trump’s first full fiscal year as president, which would be the widest fiscal gap since 2012 when the country was still emerging from the Great Recession.
The Congressional Budget Office expects the Treasury Department to report a September budget surplus of $116 billion next week, which would subtract from the deficit of $898 billion reported in the October-through-August period. The CBO published the estimate late Friday as part of its monthly budget review.