Fiscal year 2019 saw a widening in the deficit to $984 billion, the largest budget deficit in seven years
Borrowing from the public swelled to 79.1% of GDP for the year, up from 77.5% in the year before
The US government's fiscal position has deteriorated since 2016, hit by an aging of the population that has led to more people drawing on Medicare, a federal health insurance program for the elderly
The fiscal deficit goal for the year that began on April 1 was lowered to 3.3% of gross domestic product from 3.4% set in February's interim plan, Finance Minister Nirmala Sitharaman said.
Slowing the growth of Social Security and Medicare must be part of the solution
The deficit for the fiscal year, which began in October, was $391 billion, compared to a deficit of $351 billion in the same period of fiscal 2017
Spending exceeded revenue by $587.4 bn in the 12 months, compared with a $439.1-bn deficit in 201
The August deficit was slightly lower than the $112.8 billion imbalance in July