The US budget deficit rose 287%, nearly quadrupling, to $257 billion in October. This was reported by Reuters on November 13 in reference to the United States Treasury.
In 2023, the country’s budget deficit amounted to $67 billion. At the same time, calendar adjustments to benefit payments reduced it by almost half. Additionally, in October 2023, the country’s budget received $75 billion in deferred taxes due to the California wildfires and other natural disasters.
Administration of the current head of the White House joe biden He stated that for fiscal year 2024 the budget deficit was $1.83 trillion. This figure was the highest since 2019.
Under Trump’s leadership, fiscal year 2020 generated the largest budget deficit in US history of $3.1 trillion, the result of massive spending to combat the coronavirus combined with a large-scale shutdown of economic activity that caused a drop in federal budget revenues, they said. clarify news”.
