Eurasia Review on Nostr: The US Is Now On Track For A $3.5 Trillion Deficit In 2025 – OpEd ========== The US ...
The US Is Now On Track For A $3.5 Trillion Deficit In 2025 – OpEd
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The US government spent $668 billion in November 2024 and $584 billion in October 2024, totaling $1.25 trillion for the first two months of the 2025 fiscal year; revenue collected was only $628 billion, resulting in a two-month deficit of $624 billion, the largest for this period; projections indicate a year-end deficit of over $3.5 trillion, surpassing the 2020 deficit of $3.1 trillion; political climate shows little chance for significant budget cuts despite rising deficits; public polls indicate a desire for increased spending in specific areas like education and healthcare, while cuts to military spending are unpopular; Treasury Secretary Janet Yellen expressed concern over fiscal sustainability but has been part of the problem during her tenure; rising interest rates are expected due to increasing debt, leading to more bankruptcies and economic strain.
#UsEconomy #Deficit #BudgetCuts #FiscalPolicy #Debt #Spending #Politics #InterestRates #Yellen #Trump
https://www.eurasiareview.com/15122024-the-us-is-now-on-track-for-a-3-5-trillion-deficit-in-2025-oped/
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The US government spent $668 billion in November 2024 and $584 billion in October 2024, totaling $1.25 trillion for the first two months of the 2025 fiscal year; revenue collected was only $628 billion, resulting in a two-month deficit of $624 billion, the largest for this period; projections indicate a year-end deficit of over $3.5 trillion, surpassing the 2020 deficit of $3.1 trillion; political climate shows little chance for significant budget cuts despite rising deficits; public polls indicate a desire for increased spending in specific areas like education and healthcare, while cuts to military spending are unpopular; Treasury Secretary Janet Yellen expressed concern over fiscal sustainability but has been part of the problem during her tenure; rising interest rates are expected due to increasing debt, leading to more bankruptcies and economic strain.
#UsEconomy #Deficit #BudgetCuts #FiscalPolicy #Debt #Spending #Politics #InterestRates #Yellen #Trump
https://www.eurasiareview.com/15122024-the-us-is-now-on-track-for-a-3-5-trillion-deficit-in-2025-oped/