After an August that saw the federal government run up $200 billion in new red ink, the Treasury Department reported on Thursday that the federal deficit for 2019 is now at $1.067 trillion, almost $300 billion larger than all of 2018.
The new budget figures showed Uncle Sam brought in almost $228 billion in revenues in August, while spending $428 billion.
With one month to go in Fiscal Year 2019, the feds have already spent $4.16 trillion - more money than was spent in all of 2018, at $4.11 trillion.
It's still possible the deficit won't end up over $1 trillion for 2019, as September can often be a positive month in terms of the deficit.
With the new figures coming out just a few hours before the next Democratic debate, one budget watchdog group, the Committee for a Responsible Federal Budget, said it was time for the candidates to be asked about the matter.
There have been 229 #DemDebate questions so far and none have been about the national debt. That should change tonight. #USBW2020 pic.twitter.com/XQ7gxbU6Zm
— CRFB.org (@BudgetHawks) September 12, 2019
The growing size of the deficit under the Trump Administration - coming during a positive period of economic growth - is highly unusual, as a stronger economy should mean lower deficits.
Cox Media Group