there s a difference. what happened is president obama came in in a recession and so there s a lot of job growth at the beginning because you re recovering from 11% unemployment rate. the congressional budget office thought we would great about 2 million million jobs since president trump took office or elected and it s about 7 million and the point is we re exceeding expectation because once you get to what the economists call full employment it s harder to create is jobs. there s a 5 million job surprise. if you re going to wonder about the economy and like even take your political hat off, you have to think about where did the 5 million job surprise come and our view, gary and my vau, it came because of mostly the tax cuts. that s interesting. but i mean in terms of who was the bigger job creator, at the moment if you use the same metrics it was president obama. let s move on because i want to talk about something that republicans used to talk about all the time and now no one m
billion in 2017. that is now $984 billion. steve mnuchin made it clear under the white house two years ago he said the new tax legislation would actually lower deficits by a trillion dollars over 10 years. that s not the trend we re seeing right now. 1.4 trillion spending deal, this package will certainly add to the deficit. so what is the white house doing about it? a couple things about that. elections have consequences. the fact that the democrats took over the house of representatives basically required the republican side to make concessions on spending that we otherwise would not have made. so that s been a problem. the second problem is powell at the federal reserve raising rates too far too fast over the last year or so. the best way to basically reduce the deficit is to grow faster. one more point of growth.
that s simple, easy, awesome. say nba league pass into your voice remote to check out a free preview. don t miss out. the u.s. budget deficit rose to nearly $1 trillion in 2019, up 26% in just the last year. the treasury department made the announcement on friday that the deficit has now reached $984 billion. that is the highest it has been
nearly $1 trillion in 2019, up 26% in just the last year. the treasury department made the announcement on friday, that the deficit has now reached $984 billion, and that is the highest it has been since 2012, and now, during trump s time in office, the deficit is up nearly 50%, due in large part to the president s endorsement of big spending policies. the current state of the u.s. economy, largely copt dicts the president s campaign promise, to eliminate the federal date within eight years. treasury secretary steve mnuchin commented on the new deficit figure on friday saying quote, in order to truly put america on a sustainable financial path, we must enact proposals like the president s 2020 budget plan to cut wasteful and irresponsible spending. breaking this morning, european ambassadors have agreed on an additional brexit extension to january 2020. julianna is joining us from london. good morning to you. it seems as this extension is likely to be approveed so what
third quarter fundraising, an improvement for the klobuchar campaign from second quarter numbers when she raised 3.9 million but short of her hall in the first quarter of 2019 when she brought in 5.2 million. by comparison, in the third quarters bernie and is easy and elizabeth warren raised 25.3 and 24.6 million if the was enough to put her over the threshold for the debate in november. in the past three months the minnesota s campaign raised money. they show the government is spending so much more than it takes in, the budget deficit is now just under a trillion dollars. here are the numbers. the deficit estimated at $984 billion, the highest since 2012 and it comes to almost 5% of gdp. how did we get here? more spending on medicare,