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Federal Budget Deficit up 79% in July 2018 compared to July 2017
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Marc Mensa Offline
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Federal Budget Deficit up 79% in July 2018 compared to July 2017
#winningoncredit...lotsofcredit

https://www.marketwatch.com/story/federa...2018-08-10

What happened: Receipts fell 3% compared to last July, with the government getting less money from both corporations and individuals in the wake of the new tax law. Corporate revenues were down 34% as companies enjoyed a reduced 21% tax rate. And individuals continued to send fewer tax dollars to the Treasury, after lower withholding from paychecks took effect in February. President Donald Trump signed the law in December.

Spending, meanwhile, jumped by 10% in July as the government shelled out more for programs across the board. Interest payments on the public debt jumped by 41% in the month.
08-20-2018 04:27 PM
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Federal Budget Deficit up 79% in July 2018 compared to July 2017 - Marc Mensa - 08-20-2018 04:27 PM



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