The latest budget numbers
2018 fiscal year deficit hits $779 billion
2017 deficit was $666 billion
September surplus $119B vs $107.5B consensus
2018 outlays $4.11 trillion
Receipts $3.33 trillion
Deficit at 3.9% of GDP vs 3.5% a year ago
Enjoy the growth now, pay for it later.
The deficit grew 17% in FY 2018 and would have been even larger adjusting for calendar effects. Debt servicing costs are rising as debt mounts and interest rates climb.
Total US national debt is now $21.6 trillion.
Rising growth should help trim the deficit in the near term but long-term unfunded liabilities are a major risk in the decade ahead.