NPR

Federal Deficit Jumps 17 Percent As Tax Cuts Eat Into Government Revenue

The federal deficit ballooned to $779 billion in the fiscal year just ended — a remarkable tide of red ink for a country not mired in recession or war.
Treasury Building in Washington, D.C. The trend toward rising red ink was widely anticipated, given the GOP tax cuts and other government policies, including the president's demand for beefed-up military spending. Source: Chip Somodevilla

Updated at 1:27 p.m. ET

The federal deficit ballooned to $779 billion in the just-ended fiscal year — a remarkable tide of red ink for a country not mired in recession or war.

The government is expected to borrow more than a trillion dollars in the coming year, in part to make up for tax receipts that have been slashed by GOP

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