Government set to borrow nearly $1 trillion this year, an 84 percent jump from last year

Here are the exact figures: The U.S. Treasury expects to borrow $955 billion this fiscal year, according to a documents released Wednesday. It’s the highest amount of borrowing in six years, and a big jump from the $519 billion the federal government borrowed last year.

Treasury mainly attributed the increase to the “fiscal outlook.” The Congressional Budget Office was more blunt. In a report this week, the CBO said tax receipts are going to be lower because of the new tax law.

FOLLOW THE LINK FOR THE FULL REPORT – JR

http://www.chicagotribune.com/news/nationworld/politics/ct-spending-debt-analysis-20180203-story.html

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