US deficit forecast to hit $1 trillion following tax cuts

US deficit forecast to hit $1 trillion following tax cuts
 

The US is heading for a budget deficit of more than $1 trillion (£707bn) by 2020 following tax cuts and higher public spending, according to the Congressional Budget Office.
It said that while the measures will temporarily boost the US economy, they will exacerbate its long-term debt.
The agency said US debt could rise to a level comparable to World War II and the financial crisis.
It warned that it would have "serious negative consequences" for the US.
The CBO's report has been revised to incorporate the effects of a new $1.3 trillion government spending bill and the $1.5... read more

 
9 April 2018 in Business, Views: 59
Source: BBC
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