Treasury Department and Budget Office

year: The deficit totaled 779 billion in the fiscal year that ended Sept. 30, up 17% from 666 billion in fiscal 2017, the Treasury Department said Monday, according to MSNBC. The deficit is headed toward 1 trillion in the current fiscal year, the White House and Congressional Budget Office said. Yeah, about that . The U.S. government ran its largest budget deficit in six years during the fiscal year that ended last month, an unusual development in a fast-growing economy and a sign that so far at least tax cuts have restrained government revenue gains. This deficit is the fifth largest in modern American history in non-inflation adjusted terms and it now stands at 3.9% of GDP, up from 3.5% a year ago. The trouble is the broader context Circling back to our previous coverage, there are a few key angles to this to keep in mind. To be sure, as a percentage of the economy, the deficit isn't necessarily at a level that should cause significant concern. (news.financializer.com). As reported in the news.