U.S. Budget Deficit Tops $1 Trillion In Trump’s First Month As Tax Cuts And Jobs Act Could Increase Deficit

Benzinga

The U.S. budget deficit exceeded $1 trillion in February during President Donald Trump’s first month in office, according to CNBC. The shortfall grew despite the fiscal year being less than halfway complete.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02This budget deficit exceeded $1 trillion in February during President Donald Trump's first

00:06month in office, according to CNBC. The shortfall grew despite the fiscal year being less than

00:11halfway complete. Government spending declined slightly but remained significantly higher than

00:16revenue, according to the Treasury Department. The monthly deficit grew substantially compared

00:21to the previous month and the same period last year. Trump established the Department

00:25of Government Efficiency, but there's been no immediate Treasury impact. He also seeks to

00:31extend the Tax Cuts and Jobs Act, which could significantly raise the deficit in the next

00:36decade. For all things money, visit Benzinga.com slash GSTV.

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