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Budget Deficit Topped $1 Trillion in 2019

Samuel Corum for The New York Times WASHINGTON — The federal budget deficit surpassed $1 trillion in 2019, the Treasury Department reported on Monday, as tax cuts and spending increases continued to force heavy government borrowing amid a record-long economic expansion. The deficit grew by 17 percent from 2018 to 2019, the Treasury data shows . That was a slowdown from the 28 percent growth in 2018, the first year President Trump’s signature tax […]

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