The deficit jumped to $779 billion, the Trump administration said Monday. That's $113 billion or 17% higher than the previous fiscal period, according to a statement from Treasury Secretary Steven Mnuchin and Office of Management and Budget Director Mick Mulvaney. It was larger than any year since 2012, when it topped $1 trillion. "This fiscal picture is a blunt warning to Congress of the dire consequences of irresponsible and unnecessary spending," Mulvaney said in a statement. "... Going forward, President Trump and this Administration will continue to work with Congress to make the difficult choices needed to bring fiscal restraint, which, when matched with increasing revenue, will reduce our deficit." *
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