In the US, the budget deficit has almost reached a trillion dollars

The United States federal budget deficit jumped 26 percent in the 2019 fiscal year to $984 billion, reaching its highest level in seven years as the government was forced to borrow more money to pay for President Trump’s tax and spending policies, official figures showed on Friday.

The deficit has now swelled nearly 50 percent since Mr. Trump took office and it is projected to top $1 trillion in 2020. It did not hit $1 trillion in fiscal 2019, which ended Sept. 30, but that was largely the result of Mr. Trump’s tariffs on trading partners like China, which brought in more than $70 billion in revenue.The grim fiscal scorecard shows how far the Republican Party, under Mr. Trump, has strayed from conservative orthodoxy, which long prioritized less spending and lower deficits. After years of railing against federal spending while President Barack Obama was in office, Republicans have largely followed the president’s lead in cutting budget deals with Democrats that have increased overall government spending.