We compare 2016’s projections for 2019/20 to those in the 2019 budget.
In this edition of Graphic Intelligence, we compare the 2016 Federal Budget projections to those in the newly released 2019 Budget for the 2019/20 fiscal year.
In 2016, projections for 2019/20 showed lower revenues and expenses, and a smaller budget deficit than the most recent projection. The growth in expense projections (including interest on the debt) more than outweighs growth in expected revenue. This translates to a predicted deficit of $16.8 billion in 2019/20, a full $5.1 billion larger than predicted in 2016.