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Corporate Tax Number to Blame for Growing Federal Deficit

Higher payroll tax receipts were not enough to offset weak corporate taxes and higher spending in 2016.

Jeremy Glaser: For Morningstar, I'm Jeremy Glaser. The U.S. budget deficit grew in fiscal 2016. I'm here with Bob Johnson, our director of economic analysis, to see what was driving that, and what are his projections and what it's going to look like in the future.

Bob, thanks for joining me.