TITILE:The White House is cracked
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The Congressional Budget Office (CBO) estimated on Tuesday that the federal budget deficit hit $1.6 trillion in the 10 months to July. That amount was more than double the year-earlier deficit, the agency said, while noting a 10% drop in revenue and a 10% rise in spending.
The agency expects the deficit to total $1.7 trillion for the fiscal year that ends in September, up $200 billion from its forecast earlier this year. That included a deficit of $222 billion in July, also up $11 billion from a year earlier.
Author:Catherine
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