
Despite a strong economy, the federal deficit continues to grow
Despite a strong economy, the federal deficit continues to grow

A growing economy typically means shrinking deficits, but a new report from the U.S. Treasury Department shows the government spent $740 billion more than it took in from October to May — almost the entire federal deficit of the previous budget year.
Last month’s deficit looks even worse than it would due to a timing quirk: June 1 fell on a Saturday, so more benefits were paid in May. But experts say tax cuts in 2017 and increased spending have contributed to an unprecedented fiscal gap over the past eight months.
Marketplace is on a mission.
We believe Main Street matters as much as Wall Street, economic news is made relevant and real through human stories, and a touch of humor helps enliven topics you might typically find…well, dull.
Through the signature style that only Marketplace can deliver, we’re on a mission to raise the economic intelligence of the country—but we don’t do it alone. We count on listeners and readers like you to keep this public service free and accessible to all. Will you become a partner in our mission today?