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The federal government is running up its credit bill again.The deficit rose to 9 billion in fiscal year 2018, up 17% from last year, according to final figures released Monday by the Treasury Department. That's the largest number since 2012, when the country was still spending massively to stimulate an economy struggling to recover.Government receipts were flat this year from last year. Corporate tax collections fell billion, or 22%, due to the Republican-backed tax cut. But that drop was more than offset by increased revenues from individual and self-employment taxes. The fiscal year ended September 30.Spending rose 3% over the previous year, fueled in part by increases to the defense budget agreed upon in September 2017 as part of a deal between Republicans and Democrats to head off a government shutdown. Social Security and interest on the federal debt also contributed to the increase.The Committee for a Responsible Federal Budget, a think tank that warns of the dangers of rising debt levels, said the deficit could reach trillion as soon as next year. That would still be below a high of .4 trillion reached in 2009, but in a vastly different economy."Those elected to Congress this year will face stark and difficult choices to put the debt on a downward path and protect our nation's social programs from insolvency," said Maya MacGuineas, the group's president. "It's no longer a problem for the future."The White House has steadfastly defended its policies, arguing that the yawning gap is a reason to cut deeper into social programs to balance out increases to the military budget. It's a long way from the Republican stance under President Barack Obama, when the GOP-led House demanded about trillion in budget cuts over 10 years in exchange for a debt ceiling increase, leading to years of painful automatic reductions to federal spending.White House budget director Mick Mulvaney, a notable debt hawk while he was a congressman, said the numbers underscored a need to cut spending."The president is very much aware of the realities presented by our national debt," Mulvaney said in a statement. "America's booming economy will create increased government revenues — an important step toward long-term fiscal sustainability. But this fiscal picture is a blunt warning to Congress of the dire consequences of irresponsible and unnecessary spending."His comments echoed remarks by Treasury Secretary Steven Mnuchin last week in an interview with CNN suggesting that Democrats' resistance to cutting government spending on education, health care and other social programs was to blame for deficit increases."People are going to want to say the deficit is because of the tax cuts. That's not the real story," Mnuchin told CNN. "The real story is we made a significant investment in the military which is very, very important, and to get that done we had to increase non-military spending."Not many non-military spending categories increased, however. Outlays for the departments of Housing and Urban Development, Transportation, Energy and Education all decreased, while Health and Human Services and Veterans Affairs increased slightly. The Agriculture Department saw a 7% bump from last year.The deficit figure is?in line with what the Congressional Budget Office, the official government scorekeeper of federal fiscal policy, projected earlier this month. In June, the CBO projected that the deficit would rise to 9.5% of GDP in 2018.Also in June, the federal debt — which aggregates annual deficits over time — stood at 78% of gross domestic product, the highest level since right after World War II. Updated figures were not immediately available on Monday.As interest rates rise, servicing that ballooning debt could pose challenging. Treasury spent 2 billion last year paying interest, up 14% from the year before. That's more than the cost of Medicaid, food stamps, and the department of Housing and Urban Development combined. But it is smaller as a percentage of GDP than it has been historically.In late September, the House passed a bill that would extend individual tax cuts that are currently are slated to end in 2025, at a cost of 1 billion over a 10-year window. 4260

The family of late singer Tom Petty is upset with President Donald Trump for using the hit song "I Won’t Back Down.”The song was played at the president’s re-election rally in Tulsa, Oklahoma, over the weekend.That in turn prompted the late star's estate to issue a cease and desist notice to Trump's campaign on Saturday.Adria, Annakim, Dana and Jane Petty wrote in a letter posted to Twitter that Trump was not authorized to use the song to “further a campaign that leaves too many Americans and common sense behind.”The estate said, "both the late Tom Petty and his family firmly stand against racism and discrimination of any kind."They added that "Tom Petty would never want a song of his used for a campaign of hate. He liked to bring people together."The letter also said, “We believe in America and we believe in democracy. But Donald Trump is not representing the noble ideals of either."The Trump campaign has yet to release a response about the use of the song. 980

The CEOs for auto giants Kia and Hyundai have refused to attend a congressional hearing to explain why hundreds of their vehicles have spontaneously burst into flames.Both carmakers and a spokesman for Democrats on the Senate Committee on Commerce, Science and Transportation have confirmed the companies’ refusal to send representatives to the hearing, which has been scheduled for next week.A Kia spokesman said the company is working with the committee to “analyze all relevant information associated with any fire or other safety-related matters and will take any necessary corrective action in a timely manner.”A Hyundai spokesman said, “Hyundai takes this matter very seriously, and fully appreciates the concerns of the Senate Commerce, Science & Transportation Committee including those of the Chairman and Ranking Member.”It was not immediately clear whether the U.S. Senate committee would postpone or cancel its Nov. 14 hearing on Kia and Hyundai fires.The call for the hearing came six months after Consumer Investigator Jackie Callaway, of WFTS television station in Tampa, Florida, first reported on the unexplained car fires.Since April, the WFTS I-team has exposed hundreds of Kia and Hyundai models manufactured since 2011 that caught fire across the country.“The hearing will focus on motor vehicle safety issues involving vehicle fires,” stated the identical letters – dated Oct. 16 – and sent to Kia Motors America President and CEO Seungkyu “Sean” Yoon and Hyundai Motor America's Kyung Soo “Kenny” Lee.The CEOs were asked to “promptly identify and respond to defects that may pose a fire risk” at the Nov. 14 hearing in front of the Senate Committee on Commerce, Science and Transportation.In September, an Ohio mother spoke out and called for a federal investigation after watching her son burn alive in her 2014 Kia Soul parked at her apartment complex just outside of Cincinnati last year. 1926

The brother of an unarmed black man killed by police interrupted a Sacramento City Council meeting on Tuesday as chants of the victim's name filled the chambers, illustrating how the fatal shooting has sparked emotions in this California city."Stephon Clark. Stephon Clark," Stevante Clark and others chanted in the first meeting since the fatal shooting on March 18."Louder. Louder," said Stevante Clark, who hopped on the dais and yelled an expletive at Mayor Darrell Steinberg.Standing in front of the council chambers with others, Stevante Clark said: "The mayor and the city of Sacramento has failed all of you," citing high rent, gang violence and poverty in the city.The outburst forced council members to take a brief recess. 746

The calendar just turned to November but some companies are already in the Christmas spirit. Starbucks and McDonald's have already released their 2017 holiday cups.Starbucks scrapped its traditional red design for a DIY cup. There's a stack of presents, a Christmas tree, doves, two people holding hands and lots of white space. Customers are encouraged to color the cups themselves.  412