The federal budget deficit for calendar year 2019 topped $1 trillion, according to data released by the Treasury Department Monday.
- The shortfall from January through December totaled $1.02 trillion. (The deficit for fiscal 2019, which ran from October 2018 through September 2019, was $984 billion.)
- It’s the first time since 2012, in the wake of the Great Recession, that the calendar-year deficit has been above $1 trillion.
- The deficit is up 17.1% from 2018 and 50% bigger than the deficit in 2017, President Trump’s first year in office.
- The deficit from October through December, the first three months of fiscal year 2020, was $356.6 billion, up about 12% from the previous year.