By Brooke Seipel of The Hill
The Treasury Department estimated in April that the annual deficit would boom this year, rising to $833 billion from roughly $665 billion in 2017. The cumulative deficit for the fiscal year is already $41 billion higher than at the same point last year.
The net marketable debt the Treasury expects to issue from July through September is also the fourth-largest total for that quarter and far higher than was estimated earlier this year.
The Trump administration argues that the strong economy will soon boost government revenue and reduce the deficit.