Mon. Nov 18th, 2019

CBO estimates budget deficit of $960 billion in 2019

1 min read

The Congressional Budget Office on Wednesday raised its estimate of the federal government’s budget deficit for the 2019 fiscal year to $960 from $896 billion. That’s about in line with the Trump administration’s own forecast of $1 trillion for the fiscal year ending Sept. 30. The estimates are up from a shortfall last year of $779 billion. The nonpartisan CBO said increasing deficits are the result of a major budget deal signed by President Trump in August, which raised spending limits.

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