Page 9 - 779 Billion News Today : Breaking News, Live Updates & Top Stories | Vimarsana

>> they built it. concrete stilts. it will need repairs. the federal government is racking up the bills. spending so much more than it takes in. it is running the largest budget deficit in six years. a sign that tax cuts are curbing how much the u.s. collects. the u.s. deficit rose 17% this year to $779 billion. that's the highest since 2012 when the country was spending big to stimulate a struggling economy. 20 2018 is different. the government collects more from taxpayers. spending rose 3% fueled by higher interest payments on debt. and bigger increases to the defense budget. revenue faile...

Enormous. and how the u.s. responds to all of this will be very, very significant. the whole world will be watching. let me go to another issue that's emerging right now. all of a sudden we're learning the federal deficit rose by 17% in this year, 2018 to $779 billion. the deficit this year, that's the highest since 2012. spending was up while corporate tax collection fell by $76 billion. due in part to the republican tax cuts for corporations. estimates also in this latest federal government report say the federal deficit next year could top $1 trillion. congressman, what ever happened to tha...

>> reporter: latinos are not monolithic. 25% of them say that they approve of president trump. and something else to remember is that as a demographic they're quite young and youth means that people are less inclined to vote. >> that is a problem! the youth need to turn out to vote. thank you very much. okay. so it's time for cnn business now. america's deficit is ballooning. higher spending and lower taxes are pushing it to the highest level in years. chief business correspondent christine romans joins us now with more. >> question, do deficits matter these days in d.c.? the federal governm...

6.2 million said to be out of work. president represented the news was astonishing. the dow jumped today at 548. the s&p 500 gained 59. the nasdaq finished ahead 215. on the downside, the federal budget deficit has surged to $779 billion in fiscal 2018, its highest level in six years. the treasury department said it climbed 118 billion since 2016. at the trump administration expects the deficit to top $1 trillion in 2019, nearly matching the $1.1 trillion in 2012. the factor of using racial admissions in colleges is under attack tonight. and harvard, the case could bring up challenges to affir...

17% from 2017. watchdogs warned this would happen after the tax cuts. getting the number down is one of the many things the president promised to do if he won the election. >> you put forward a balanced budget, your first budget or will it take a couple years? >> it will take fairly quickly and it can be done. >> fairly quickly, and it has been done. that's what candidate trump said. fiscal conservative is out the window where the white house is controlled by fiscal conservatives. we have a closer look at all the new red ink. >> do deficits matter in washington anymore? the federal government ...