Despite the boasting of "more job openings than job seekers," and 1.4 percent growth in wage compensation, a Monday joint press release by the US Treasury and OMB revealed a glaring disparity between spending and collection.
Blasting Congress' "continual unwillingness to restrain spending," OMB Director Mick Mulvaney claimed the US president is "very much aware" of spending climbing by 3.2 percent while revenue increased by a mere 0.4 percent for 2018.
The OMB director went on to assert "America's booming economy" will lead to an increase in government revenue looking forward.
According to the Congressional Budget Office, the American public can expect the federal deficit to surpass $1 trillion by 2020 — comparable to the total around the time of the US' 2007 to 2008 financial crisis.
