{"id":886,"date":"2021-09-02T11:36:44","date_gmt":"2021-09-02T11:36:44","guid":{"rendered":"https:\/\/trusteconomics.eu\/?p=886"},"modified":"2021-09-07T15:34:54","modified_gmt":"2021-09-07T15:34:54","slug":"smaller-in-absolute-size-but-bigger-the-us-budget-deficit","status":"publish","type":"post","link":"https:\/\/trusteconomics.eu\/index.php\/2021\/09\/02\/smaller-in-absolute-size-but-bigger-the-us-budget-deficit\/","title":{"rendered":"Smaller in Absolute Size but, Bigger the US Budget Deficit"},"content":{"rendered":"<p>Due to the rapid recovery of the US economy, the Biden government predicts that this year the Federal Budget deficit will be $555 billion lower than the corresponding budget in May.<\/p>\n<p>In absolute numbers, the forecast is for a deficit of $3.12 trillion for the financial year ending September 30, 2021. The deficits are not projected to shrink below $1 trillion, while for the financial year 2022 (1.10.2021 &#8211; 30.09. 2021) the US government forecasts a deficit of $1.54 trillion.<\/p>\n<p>The issue that arises is that the US government does not consider the two new fiscal support packages of the economy with the first of the two being around $1 trillion for spending on infrastructure, roads, railways, etc. and the second $3.5 trillion package for extended healthcare, improving preschool and lower school education, and climate change projects.<\/p>\n<p>The overall deficit has worsened as the government approved trillion-dollar programs to support workers and businesses affected by the Covid-19 pandemic.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Due to the rapid recovery of the US economy, the Biden government predicts that this year the Federal Budget deficit will be $555 billion lower than the corresponding budget in May. In absolute numbers, the forecast is for a deficit of $3.12 trillion for the financial year ending September 30, 2021. The deficits are not &hellip; <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17,391,6],"tags":[118,51],"class_list":["post-886","post","type-post","status-publish","format-standard","hentry","category-financial-markets","category-market-analyses","category-publications","tag-budget-deficit","tag-us"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/trusteconomics.eu\/index.php\/wp-json\/wp\/v2\/posts\/886","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/trusteconomics.eu\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/trusteconomics.eu\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/trusteconomics.eu\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/trusteconomics.eu\/index.php\/wp-json\/wp\/v2\/comments?post=886"}],"version-history":[{"count":1,"href":"https:\/\/trusteconomics.eu\/index.php\/wp-json\/wp\/v2\/posts\/886\/revisions"}],"predecessor-version":[{"id":887,"href":"https:\/\/trusteconomics.eu\/index.php\/wp-json\/wp\/v2\/posts\/886\/revisions\/887"}],"wp:attachment":[{"href":"https:\/\/trusteconomics.eu\/index.php\/wp-json\/wp\/v2\/media?parent=886"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/trusteconomics.eu\/index.php\/wp-json\/wp\/v2\/categories?post=886"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/trusteconomics.eu\/index.php\/wp-json\/wp\/v2\/tags?post=886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}