Reuters: U.S.

Friday, July 19, 2019

News Alert: Trump faces new hit on deficit

 
 
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Trump faces new hit on deficit
President Trump’s record on the deficit is poised to take another hit.

Speaker Nancy Pelosi (D-Calif.) and Treasury Secretary Steven Mnuchin are preparing a spending deal that could add as much as $2 trillion to the national debt over a decade.

Trump has sought to avoid signing additional expensive spending bills ahead of his reelection bid next year, and his team had put forward proposals to reduce domestic spending. But the White House had little leverage to begin with given the Democratic majority in the House, which was dead-set against the spending ceilings suggested by Trump’s administration.
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