The U.S. budget deficit as a share of the economy widened for the first time in seven years, marking a turning point in the nation's fiscal outlook as an aging population boosts government spending and debt.


Debt levels are seen rising under both U.S. election candidates. Democratic nominee Hillary Clinton's spending proposals include $275 billion for infrastructure and $350 billion on making college more affordable. Her proposals would add $200 billion to $1.8 trillion to deficits, according to recent independent economists' projections. She has proposed tax increases for the wealthy to help fill the gap.

Donald Trump, the Republican candidate, has pledged to cut taxes and spend as much as $500 billion on infrastructure programs. Projections of the impact of his proposals say he'd increase the national debt by roughly $5 trillion over 10 years. Trump says his proposals would boost economic growth, which in turn would help reduce the federal debt.

And don't forget that the debt is already rising faster than the deficit -- roughly twice as fast, on average.

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