U.S. annual budget deficit nears $1T with 26% rise

THE U.S. BUDGET DEFICIT 26% to $984 billion in 12 months through September. / BLOOMBERG FILE PHOTO/ANDREW HARRER
THE U.S. BUDGET DEFICIT 26% to $984 billion in 12 months through September. / BLOOMBERG FILE PHOTO/ANDREW HARRER
WASHINGTON – The United States budget deficit widened to almost $1 trillion in the latest fiscal year, surging to the highest level since 2012 as President Donald Trump cut taxes and boosted spending. The federal government’s gap increased by 26% to $984 billion in the 12 months through September, representing 4.6% of gross domestic product,…

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