(Bloomberg) -- The ballooning federal budget deficit underPresident Donald Trump will force the U.S. to borrow more than $1trillion this year and risks worsening the frenzy behind the globalsell-off in stock markets.
The budget deal Senate leaders reached late Wednesday would addnearly $300 billion in government spending over two years and pushthe deficit higher.
Even beforehand, Bank of America Corp. senior U.S. economistJoseph Song warned in a report that the federal deficit was ontrack to exceed 5 percent of gross domestic product by 2019, by farthe largest for the economy while at full employment since WorldWar II.
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