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More than 8,000 Trump administration officials were in touch with Treasury officials from the Treasury’s Bureau of Economic Analysis in Washington DC in August on what could become an increasingly serious issue: The Trump administration plans to increase the amount of the federal deficit by several trillion dollars over the next 10 years, likely to keep it lower than it has in years past.
The administration’s recent decision to cut the federal debt limit to about $775 million had been prompted by the Trump administration’s apparent inability to do business in the U.S. Treasury Department’s Office of Foreign Assets Liability for a new tax cut.
The Treasury Department has spent much of its fiscal year and year-end fund, which is scheduled to begin on Nov. 3, and is expected to cap the amount of the deficit the administration is pushing through.