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It’s Official: 2018 Federal Deficit Largest Since 2012 The federal government spent $790 billion more than it taxed during fiscal year 2018. The deficit is about to get worse. Much worse.
The federal government finished the 2018 fiscal year—it ended on September 30—a whopping $779 billion in the red, the largest annual budget deficit since 2012. The current fiscal year is likely to …