That’s how much the US deficit skyrocketed in June.
The Treasury Department reported Monday that the US deficit increased by a record $864 billion in June, according to reporting from US News and World Report.
In the first nine months of the fiscal year, which began October 1st, 2019, the federal deficit has skyrocketed to a record $2.74 trillion. There are still three months left in the budget year, making it very likely that the annual budget will surpass $3 trillion for the first time ever.
Trump told the Washington Post in April 2016 that he would eliminate the entire federal debt within eight years of taking office. In actuality, he has increased the debt by 31% and the deficit by more 400%, fiscal year to date.