And could reach $2 trillion by the fall!
Budget deficit tops $1 trillion for first time
The federal deficit has topped $1 trillion for the first time ever and could grow to nearly $2 trillion by this fall, intensifying fears about
higher interest rates, inflation and the strength of the dollar.
The Treasury Department said Monday that the deficit in June totaled $94.3 billion, pushing the total since the budget year started in October to
$1.09 trillion. The administration forecasts that the deficit for the entire year will hit $1.84 trillion in October.
We are in deep, and it's only getting deeper.