and south korea says it will stop trying to benefit from its status as a developing nation the u.s. complains rich countries are using their status to play in the world trade. it s time for business on the w. i m here welcome to the program the u.s. treasury has announced that the country s budget deficit sorts to almost a trillion dollars in the 2900 physical year that s a 26 percent jump from 2018 the trump administration has spent far more than its tax revenue because of the republican led tax cuts taking advantage of a booming economy government spending grew twice as fast as tax revenues the u.s. treasury secretary steven said economic agenda is working while lawmakers fear the government is undermining fiscal responsibility. for more on the subject i m now joined by the financial correspondent on wall street. these deficit numbers