{"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":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.10 - aioseo.com -->\n\t<meta name=\"description\" content=\"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. 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