The White House announced Friday the federal budget deficit will be $600 billion for fiscal year 2016, a $162 billion increase from last year.
According to
the Washington Examiner, the 2016 figure is lower than the expected number of $616 billion.
The budget deficit for fiscal year 2015 was $438 billion.
The 2013 deficit, according to White House documents, was $680 billion — the first time the number had fallen under $1 trillion since President Barack Obama took office in 2009. The deficit's all-time high was $1.4 trillion, which occurred in fiscal year 2009 — for which President George W. Bush's administration was responsible.
The U.S. has been in the red since 2001. From 1998-2001, there was a budget surplus.
Estimates in the abovementioned White House document suggest the next several years will carry large deficits.
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