The federal budget deficit ballooned rapidly in the first four months of the fiscal year amid falling tax revenue and higher spending, the Treasury Department said Tuesday, posing a new challenge for the White House and Congress as they prepare for a number of budget battles.
The deficit grew 77 percent in the first four months of fiscal 2019 compared with the same period one year before, Treasury said.
The total deficit for the four-month period was $310 billion, Treasury said, up from $176 billion for the same period one year earlier.
View the complete March 5 article by Damian Paletta on The Washington Post website here.