免费看黄色大片-久久精品毛片-欧美日韩亚洲视频-日韩电影二区-天天射夜夜-色屁屁ts人妖系列二区-欧美色图12p-美女被c出水-日韩的一区二区-美女高潮流白浆视频-日韩精品一区二区久久-全部免费毛片在线播放网站-99精品国产在热久久婷婷-午夜精品理论片-亚洲人成网在线播放

U.S. budget deficit expands to 100 billion USD in October

Source: Xinhua| 2018-11-14 12:55:14|Editor: Yang Yi
Video PlayerClose

WASHINGTON, Nov. 13 (Xinhua) -- The U.S. federal government recorded a budget deficit of 100.5 billion U.S. dollars in October, the first month of the government's fiscal year 2019, the Treasury Department said Tuesday.

That's a 59 percent growth from the 63 billion recorded in October last year. Total outlays were up by 18.3 percent from a year ago, while total revenues increased by 7.3 percent.

The top three outlays in October this year are 84 billion dollars on social security, 69 billion dollars on defense, and 53 billion dollars on Medicare.

The report showed that interest payments on the public debt in October totaled 32 billion, up 30 percent year-on-year, constituting one of the biggest increases in spending from a year ago.

The budget deficit is expected to reach 1.085 trillion dollars for the full fiscal year, the highest since 2012, according to data from the department. The estimates are based on the FY 2019 Mid-Session Review released in July this year, the department said.

The expanding deficit partially resulted from a 10-year 1.5 trillion dollar tax cut rolled out a few months earlier, which substantially reduced corporate and individual income tax rates.

The plan was repeatedly defended by President Donald Trump, but has been criticized by Democrats, who said it favors the rich.

The Congressional Budget Office has warned that growing budget deficits would boost U.S. public debt sharply over the next 30 years if current laws generally remained unchanged.

Earlier report from the treasury department showed that the deficit registered 779 billion dollars in the fiscal year 2018 ending Sept. 30.

TOP STORIES
EDITOR’S CHOICE
MOST VIEWED
EXPLORE XINHUANET
010020070750000000000000011100001376053351