The CBO said the U.S. budget deficit is on track to top $1 trillion by 2020, due primarily to $1.5 trillion in tax cuts and $300 billion in new spending increases.

The CBO said the U.S. budget deficit is on track to top $1 trillion by 2020, due primarily to $1.5 trillion in tax cuts and $300 billion in new spending increases.

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— NBC News (@NBCNews) August 15, 2018