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After President Donald Trump’s first full fiscal year in office, the US budget deficit has hit its highest level in six years. And that’s mainly due to the tax bill. Tax revenues have declined since he signed into law $1.5 trillion of tax cuts over the next decade. But while Washington is banking on faster economic growth, it seems revenue isn’t enough to keep up with rising government spending. Max Wolff, managing partner at research consultancy, Multivariate, joins us for more on the story.
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