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WASHINGTON, DC - FEBRUARY 9: The U.S. Capitol Building is pictured on February 9, 2018 in Washington, DC. This morning the House passed a budget deal that would fund the government through March 23. (Photo by Zach Gibson/Getty Images)

US budget deficit swells to $235 billion, a new record

Emergency spending on efforts to combat the novel coronavirus is expected to exacerbate the US deficit.
Office of Management and Budget Director Mick Mulvaney, and Legislative Affairs Director Marc Short held a press briefing on the government shutdown, in the James S. Brady Press Briefing Room of the White House in Washington, D.C., on Saturday, January 20, 2018.

Trump’s chief of staff Mick Mulvaney just admitted Republicans are total hypocrites on cutting the federal deficit

Mulvaney, long known as a deficit-hawk in Congress, said the GOP loses interest on the deficit when a Democrat isn't in the White House.

Budget 2020 highlights: 8 key updates that will affect millennials

This year, there's a coronavirus payout of between S$100 and S$300.

As the US budget deficit barrels toward $1 trillion, the White House doubles down on claim that tax cuts will ‘pay for themselves’

Economists say the Republican tax bill President Donald Trump approved in 2017 has driven a sharp jump in the federal deficit.
The U.S. Capitol Building is lit at sunset in Washington, U.S., December 20, 2016.

US budget deficit jumps in January, putting it on track to hit $1 trillion for first time since 2012

The US budget deficit swelled at the beginning of 2020 even as the economy continued to grow at a steady pace.
U.S. President Donald Trump holds a campaign rally at Drake University in Des Moines

A quick guide to the latest White House budget plan, which slashes safety net programs and ramps up military spending

The $4.8 trillion budget proposal would dramatically slash funding for domestic programs and ramp up military spending.

Trump promised to eliminate the deficit within 8 years. It would take until 2035 under his new budget proposal.

The GOP has increasingly embraced red ink in the Trump era, while the influence of budget hawks has waned.

Trump’s favorite trade war scorecard posted its best figure in 6 years in 2019

Trump has long expressed frustration with the US trade balance and portrayed it as a scorecard of sorts in his economic battles.

The US budget deficit is projected to top $1 trillion this year, its highest level since 2012

Red ink has risen steadily under Trump, who vowed as a candidate to eliminate the national debt within eight years.
2020 World Economic Forum in Davos

Trump says reforming Social Security and Medicare is ‘the easiest of all things’ as he appears open to cutting entitlement spending

Any initiative to cut spending on Social Security and Medicare would be a break from his 2016 campaign pledge to protect funding for those programs.