The White House quietly released mid-year budget guidance that shows the 2019 deficit surpassing $1 trillion, an update that worsened since the administration's projections in February.
The update released Friday by the Office of Management and Budget (OMB) projects that the tax cuts legislation passed by President Donald Trump and congressional Republicans will add $101 billion to next year's deficit and surpass the $1 trillion mark a year earlier than expected.
The projected deficit would be 5.1 percent of Gross National Product.
"This is a striking acknowledgement following almost two years of claims that economic growth unleashed by these policies will wipe deficits away," Maya MacGuineas, president of the Committee for a Responsible Federal Budget, told The Hill.
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