Sep 11, 2018

U.S. on course for $1 trillion deficit

Photo: Mark Wilson/Getty Images

The U.S. deficit grew by $222 billion from this time last year — reaching a total of $895 billion, according to the nonpartisan Congressional Budget Office.

Why it matters: This increase was due mostly to the new Republican tax law and Congress' routine decision to increase spending, which grew by 7% compared to revenue growth of only 1%. The CBO says the deficit will approach $1 trillion by the end of Fiscal Year 2019.

Editor's note: This post was corrected to reflect that the CBO did not change their estimate of when the U.S. would approach a trillion dollar deficit. (We had incorrectly stated they changed their current estimate from one in April.)

Go deeper

Trump gets "woke" in 15-city campaign to court black voters

The Trump campaign is leaning into its effort to woo African American voters, opening "Black Voices for Trump" offices across six swing states, the campaign says.

Why it matters: "Woke" stickers, "Black Voices for Trump" T-shirts and other branded swag are part of this storefront approach as the campaign ramps up its efforts to erode Democrats' lock on this key demographic.

House passes bill to make lynching a federal hate crime

Photo: Aaron P. Bauer-Griffin/GC Images via Getty Images

The House voted 410-4 on Wednesday to pass legislation to designate lynching as a federal hate crime.

Why it matters: Congress has tried and failed for over 100 years to pass measures to make lynching a federal crime.

This year's census may be the toughest count yet

Illustration: Eniola Odetunde/Axios

Community leaders are concerned that historically hard-to-count residents will be even harder to count in this year's census, thanks to technological hurdles and increased distrust in government.

Why it matters: The census — which will count more than 330 million people this year — determines how $1.5 trillion in federal funding gets allocated across state and local governments. Inaccurate counts mean that communities don't get their fair share of those dollars.