White House: $1 Trillion Deficit In 2019

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The White House’s midyear budget projections see federal deficits surpassing $1 trillion in 2019.

In an annual budget review, the White House’s Office of Management and Budget (OMB) estimated that new legislation enacted since the release of its February budget — alongside new projections on other spending and receipts — would add $101 billion more to the 2019 deficit, pushing it above $1 trillion.

That figure would amount to 5.1 percent of the United States’s gross domestic product, the nation’s total economic output.

 

Read more at The Hill.

{Matzav.com}

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