A Treasury analysis has found the Trump administration’s economic policies have put the US on track to narrow its yawning deficit using a mix of spending cuts and tariff revenue to improve the fiscal outlook.
The estimate shows that in the three months to June, the first full quarter of Trump’s second term, government outlays were up 0.2 per cent compared with a year earlier. The rise is much smaller than in the previous four quarters, when spending was up between 7.1 per cent and 28.5 per cent.
In the third quarter this year, spending was down 2.5 per cent compared with a year earlier.
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