Federal deficit tops $1T - CBO

|By:, SA News Editor

The federal deficit has surpassed $1T in the first 11 months of fiscal 2019, according to the Congressional Budget Office, though it is likely to be reduced in September as quarterly tax payments are paid.

In its most recent baseline projections, CBO estimates that the 2019 budget deficit would be $960B, noting that the amount would be $181B higher than last year's deficit.

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