Trump sinks US economy The budget deficit has reached 00 3100
billion
Figures released by the U.S. government show that the federal
budget deficit reached a record high of 31 3.1 trillion in fiscal year ending
September 30, 2020, the largest budget deficit in U.S. history since World War
II. According to media reports, the US economy is also considered to be the
most loss-making economy in the world. However, the Corona virus has caused the
US economy to lose more money this year than ever before.It has shrunk by 15.2%
over the year.
The Trump administration estimated in February this year that the
federal budget deficit would be 98 984 billion, but the deficit more than
tripled to 3. 3.1 trillion and reached 31 3100 billion after the 2008 global
economic crisis. The $ 1.4 trillion deficit is more than double.
In the fiscal year 2019-2020, US government revenues fell 1.2
percent year-on-year to 3.42 trillion, while the Trump administration's
spending rose 47.3 percent to 6. 6.55 trillion. Measures were taken to deal
with the Corona epidemic. The Corona epidemic in the United States left about
25 million people unemployed in the two months of March and April, of which So
far, only 10 million jobs have been restored.
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