Donnelly Statement on Massive Spike in Federal Borrowing
U.S. Senator Joe Donnelly released the following statement after the U.S. Treasury Department announced that government borrowing this year will be $1.34 trillion, more than double the amount from 2017. The Department expects to issue $425 billion in debt from October through December covering a widening budget gap caused "primarily" by the 2017 McConnell-Ryan tax law. This marks the highest level of borrowing since 2010, when the country was still emerging from the Great Recession. Donnelly said, “Last year, Leader McConnell and Speaker Ryan pushed through an irresponsible and partisan tax law that exploded our deficit to benefit the wealthy
