NEWS ALERT : U.S. Government Deficit Rises 17% in Fiscal 2018
The federal deficit widened last year amid higher government spending—including rising interest costs on the debt and increased funding for the military—and flat revenues following last year's tax cut.
The government ran a $779 billion deficit in the fiscal year that ended Sept. 30, the Treasury Department said. That is the largest annual deficit in six years and 17% higher than the $666 billion deficit in fiscal 2017. As a share of gross domestic product, the deficit totaled 3.9%, up from 3.5% a year earlier and the third consecutive increase.
Impact : Medium
Sentiment : Bad For Dollar
The federal deficit widened last year amid higher government spending—including rising interest costs on the debt and increased funding for the military—and flat revenues following last year's tax cut.
The government ran a $779 billion deficit in the fiscal year that ended Sept. 30, the Treasury Department said. That is the largest annual deficit in six years and 17% higher than the $666 billion deficit in fiscal 2017. As a share of gross domestic product, the deficit totaled 3.9%, up from 3.5% a year earlier and the third consecutive increase.
Impact : Medium
Sentiment : Bad For Dollar
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