por Thomas Dworetzky
, Contributing Reporter | February 12, 2020
“The administration said in a statement that part of the spending plan involves 'shrinking the federal government to its proper size' by calling for overall reductions of about 2%,” stated the conservative-leaning Washington Times
, adding, however, that, in fact, “deficits have risen each year under Mr. Trump,” and noting that when Mr. Obama ended his administration, the annual deficit “was down to about $585 billion after three consecutive $1 trillion deficits at the start of his presidency,” during the height of the financial crisis.
Under President Trump the deficit has hit “$665 billion in fiscal 2017. It climbed to $779 billion in fiscal 2018, which was 3.8% of gross domestic product. In 2019, it rose to $984 billion.” It has widened, in the face of massive tax cuts enacted over Democratic objections, to $356.6 billion so far in fiscal 2020 and is set to “exceed $1 trillion by the end of the year,” according to the publication.
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The present fiscal 2021 administration proposal would slightly reduce that “deficit to $966 billion next year and eliminate annual deficits by 2035,” a senior administration official told the paper.
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