U.S. Deficit Increases to $587 Billion Presiden
Post# of 51169
Posted On: 10/15/2016 8:59:14 AM
U.S. Deficit Increases to $587 Billion
President Obama had proposed to pair the tax cuts with some tax increases on wealthy Americans, to avoid adding to the deficit, but Congress refused.
Hillary Clinton, the Democratic presidential nominee, proposes some of the same tax increases as Mr. Obama has, and more.
The number of people 65 years or older is expected to increase nearly 40 percent in a decade, driving up spending for Medicare and Social Security.
Military spending increased little over all, and dropped for military operations and maintenance. Spending on nutrition for the poor, formerly known as food stamps, was down 4 percent.
President Obama had proposed to pair the tax cuts with some tax increases on wealthy Americans, to avoid adding to the deficit, but Congress refused.
Hillary Clinton, the Democratic presidential nominee, proposes some of the same tax increases as Mr. Obama has, and more.
The number of people 65 years or older is expected to increase nearly 40 percent in a decade, driving up spending for Medicare and Social Security.
Military spending increased little over all, and dropped for military operations and maintenance. Spending on nutrition for the poor, formerly known as food stamps, was down 4 percent.
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