Government set to borrow nearly $1T this year, an 84% jump
Published on February 04, 2018 at 04:06AM by Heather Long, The Washington Post
It was another crazy news week, so it's understandable if you missed a small but important announcement from the Treasury Department: The federal government is on track to borrow nearly $1 trillion this fiscal year - President Donald Trump's first full year in charge of the budget. That's almost double what the government borrowed in fiscal year 2017. Here are the exact figures: The U.S. Treasury expects to borrow $955 billion this fiscal year, according to a documents released Wednesday. It's the highest amount of borrowing in six years, and a big jump from the $519 billion the federal government borrowed last year. Treasury mainly attributed the increase to the "fiscal outlook." The Congressional Budget Office was more blunt.
Published on February 04, 2018 at 04:06AM by Heather Long, The Washington Post
It was another crazy news week, so it's understandable if you missed a small but important announcement from the Treasury Department: The federal government is on track to borrow nearly $1 trillion this fiscal year - President Donald Trump's first full year in charge of the budget. That's almost double what the government borrowed in fiscal year 2017. Here are the exact figures: The U.S. Treasury expects to borrow $955 billion this fiscal year, according to a documents released Wednesday. It's the highest amount of borrowing in six years, and a big jump from the $519 billion the federal government borrowed last year. Treasury mainly attributed the increase to the "fiscal outlook." The Congressional Budget Office was more blunt.
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