Budget Deficit to Break $1 Trillion Despite Strong Economy

US News | January 28, 2020

Budget Deficit to Break $1 Trillion Despite Strong Economy
An annual congressional report says the U.S. budget deficit is likely to burst through the symbolic $1 trillion barrier this year despite a healthy economy. Tuesday's Congressional Budget Office report follows a burst of new spending last year and the repeal in December of several taxes used to help finance the Affordable Care Act. Those have combined to deepen the government's deficit spiral well on into the future, with trillion-dollar deficits likely for as far as the eye can see. The annual CBO update of the government's economic and fiscal health estimates a $1 trillion deficit for the ongoing fiscal year, which would bring the red ink above $1 trillion for the first time since 2012, when former President Barack Obama capped four consecutive years of $1 trillion-plus budget deficits. The government, slated to spend $4.6 trillion this year, would have to borrow 22 cents of every dollar it spends.

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Help Us Improve Our Recycling Program! Take the Survey here: Our recycling program collects and processes materials that would otherwise be thrown away as trash and enables them to be turned into new products. Recycling helps to conserve energy and natural resources, contributes to the economy, and reduces the amount of municipal waste requiring disposal. Help us find new ways to make our recycling program even more successful by filling out our online survey. All residents who receive curbside solid waste and recycling collection services in Hillsborough County are invited to complete a brief survey about how and what your household recycles. A member of your household who is 18 years of age or older and familiar with your household’s recycling habits should fill out this survey. Your feedback is greatly appreciated and your survey responses are confidential. The Official Hillsborough County, Florida Government YouTube channel is powered by Hillsborough Television (HTV), find more of our programming at these outlets: