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White House: Deficit Will Increase 20% This Year (Despite Record Tax Revenue)CNS NewsFeb. 04, 2015 |
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 (CNSNews.com) - The data that the White House published with President Obama's fiscal 2016 budget proposal yesterday indicate that the federal deficit will increase by 20 percent during this fiscal year (2015) even though the administration predicts the Treasury will bring in record revenue during the year. According to Table S-1 in the "Summary Tables" appendix to the Obama budget, the deficit was $485 billion in fiscal 2014 and will be $583 billion in fiscal 2015--an increase of $98 billion, or 20.2 percent. Read More 
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