Fiscal 2018 Deficit Through July

The chart below compares the monthly deficit or surplus for the current fiscal year with Fiscal 2017. The U.S. government posted a $74 billion deficit in July, which is $31 billion more than July 2017.

The cumulative deficit through July 2018 is $682 billion; $118 billion more than the $564 billion deficit through July 2017. Based on current projections, the federal government will overspend another $111 billion over the next two months pushing the Fiscal 2018 deficit to $793 billion. 

Congress is currently working on the Fiscal 2019 budget and spending bills. Absent any significant changes, which is unlikely with the mid-term 2018 elections a few weeks away, the federal government will spend $1 trillion more than it collects during Fiscal 2019. 

Even though the U.S. is on the verge of indefinite trillion budget deficits, why do you think fiscal matters are barely mentioned during this election cycle?