A report of the American website “Reason”, on Wednesday, said that the federal budget deficit reached 984 billion dollars, an increase of 50 percent since Trump took office.

The report, translated by “The Information,” stated that “Trump added, within three years of taking office in the White House, to the national debt more than George W. Bush did in his entire two terms.

“During the 2016 campaign, Donald Trump said he would be able to erase the US national debt within eight years,” he added. Instead, after three years in office, he supervised an increase of about 50 per cent in the gap between the amount that the government charged and the amount it spent.

And that “the Treasury Department announced that the official federal deficit for the fiscal year 2019, which ended last September, amounted to 984 billion dollars, in line with what was estimated by the Congressional Budget Office last month, as this announcement is considered an official confirmation that Jabaluddin of the federal government has It grew dramatically during Trump’s first three years in the White House. ”

He continued, “The corporate tax revenues increased by 12 percent compared to the previous year, while the total tax revenues increased by about 4 percent. But spending grew only 8 percent. ”

The report pointed out that “the United States is currently suffering from a huge deficit in the federal budget despite a decade of economic growth and low unemployment, while the Treasury says that” increased spending on health care, social security, defense and interest on public debt led to an increase in the deficit in the year Finance 2019“.

News source: https://rasediraqi.com/