NPR

Despite Strong Economy, Federal Deficit Soars

Even with a healthy job market and rapid economic growth, the federal government is piling up debt. The government's deficit is expected to top $1 trillion next year.

On a muggy morning this week, a group of bankers and investment managers met at the Hay Adams Hotel in Washington, D.C. They got an update from the Treasury Department about government cash flows and, according to minutes of the meeting, the picture wasn't pretty.

Corporate tax receipts are down for the year, while government spending is up.

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