A new study shows President Donald Trump will likely inherit a rising federal budget deficit, which could signal some bad news for him as he attempts to make good on his campaign promises.
The Congressional Budget Office released a report Tuesday that estimated Trump will see a $559 billion budget deficit for the year. That's an increase from the one former President Barack Obama left at the end of 2016, $439 billion.
According to The Washington Post, a rising deficit might hamper some of Trump's plans.
For example, his desire to have a border wall erected between the United States and Mexico would come with a hefty price tag, and that's something congressional Republicans might not want to get behind because of that. Interest rates may also rise, which could decrease spending at the consumer level.
The other big issue that could take a hit via the increasing deficit is a replacement for Obamacare. Republicans vowed to have a replacement ready for when they officially repeal the 2010 healthcare law, but that would cost several billion dollars.
"How long will the deficit hawks sleep with their heads underneath their wings?" GOP budget expert Steve Bell of the Bipartisan Policy Center told the Post. "This is the beginning of starting to alert them."
Trump's other big project is upgrading the nation's infrastructure, a series of projects that might cost as much as $1 trillion.
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