With one month to go in Fiscal Year 2019, the feds have already spent $4.16 trillion - more money than was spent in all of 2018, at $4.11 trillion.
It's still possible the deficit won't end up over $1 trillion for 2019, as September can often be a positive month in terms of the deficit.
With the new figures coming out just a few hours before the next Democratic debate, one budget watchdog group, the Committee for a Responsible Federal Budget, said it was time for the candidates to be asked about the matter.
There have been 229 #DemDebate questions so far and none have been about the national debt. That should change tonight. #USBW2020 pic.twitter.com/XQ7gxbU6Zm
— CRFB.org (@BudgetHawks) September 12, 2019
“Absent more responsible budgets, the deficit and interest costs will continue to grow rapidly, diminishing America’s future," said Michael Peterson, head of another budget watchdog, the Peterson Foundation.
"The longer we wait, the more costly and difficult it will be to put our nation on a stronger path," Peterson added.
The growing size of the deficit under the Trump Administration - coming during a positive period of economic growth - is highly unusual, as a stronger economy should mean lower deficits.
One trillion dollar deficit wire now crossed. We edge closer to the brink. When will we wake up to this threat? Time for the @realDonaldTrump to quit tweeting and start leading on this issues which will cripple jobs, savings and the American dream.
— Mark Sanford (@MarkSanford) September 12, 2019
Since 1993, there have been 11 months in which the federal deficit topped $200 billion. Seven have been on Trump's watch. https://t.co/Pg2d9kJ6kE
— Philip Bump (@pbump) September 12, 2019
“More remarkable is the fact that these deficits are projected to continue and grow well past the one trillion dollar figure each year over the next ten years,” said Mark Sanford, a former GOP Congressman challenging President Trump.
“The President hasn’t even tried to get the federal budget under control,” said Rep. Justin Amash (I-MI).
“President Trump’s big-government agenda is not sustainable,” added Amash, who has been called a 'loser' by the President.
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