Tags: Barack Obama | white house | budget | deficit

White House: Budget Deficit of $600 Billion for 2016

Image: White House: Budget Deficit of $600 Billion for 2016
President Barack Obama (AP) 

By    |   Friday, 15 Jul 2016 04:36 PM

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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The White House announced Friday the federal budget deficit will be $600 billion for fiscal year 2016, a $162 billion increase from last year.
white house, budget, deficit
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2016-36-15
Friday, 15 Jul 2016 04:36 PM
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