US Deficit Spikes Again, on Track for $1 Trillion: 'Wasteful Spending Is Unacceptable'
Federal Reserve Chairman Janet Yellen, referencing the Congressional Budget Office's long-term budget projections, told the Joint Economic Committee of Congress today that under current policies the federal government’s deficits “will rise to unsustainable levels.”
(Worthy News) - A new report shows the US Government is still spending much more money than it brings in. That means the US is continuing to borrow hundreds of billions of dollars just to keep paying its bills.
The Treasury Department reports a $146.9 billion deficit in March, bringing the total deficit for the first half of the budget year to $691 billion. That's up 15 percent over the same time period last year.
Treasury officials say the deficit is on track to pass $1 trillion when the fiscal year ends in September. [ Source: CBN News (Read More...) ]
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