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The US Budget Deficit Has Risen The Highest Since World War II
The US budget deficit reached 15 percent of the country's gross domestic product and is the highest since the US government borrowed heavily to finance the last year of World War II.
Yazar: Tom Roberts
Yayınlanma: 10 Ekim 2020 01:25
Güncellenme: 1 Mayıs 2024 16:59
The US Budget Deficit Has Risen The Highest Since World War II
The U.S. federal government budget deficit for the fiscal year ending in September rose to a record $ 3.1 trillion due to spending to mitigate the impact of the COVID-19 pandemic. These are unofficial figures published by the Congressional Budget Office (CBO). The US budget deficit reached 15 percent of the country's gross domestic product and is the highest since the US government borrowed heavily to finance the last year of World War II. The US government spent $ 6.6 trillion last fiscal year. The US budget deficit is more than twice as high as the previous record deficit of $ 1.4 trillion during the 2009 recession. Adverse government revenue developments also contributed to the deficit, falling by $ 44 billion due to lower almost 16 percent and a decrease in corporate taxes by 21 percent.İLGİLİ HABERLER
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