In annual terms the budget deficit of the United States increased a hundred fold and continues to increase.
By the end of June, the budget deficit rose to a record $864 billion, according to the Finance Ministry.
A year ago the deficit was only $8,477 billion.
A huge deficit due to the release of funds to help small businesses and lost jobs because of the pandemic coronavirus.
According to published data, budget revenues last month fell by 27.9% to $240,829 billion from $333,952 billion a year earlier.
The cost jumped to $1,105 trillion from $572,614 billion in may and $342,43 billion in June 2019.
As a result, for the nine months 2020 fiscal year, which began October 1, the budget deficit of the USA increased 3.7 times up to $2 trillion 744,3 billion compared to $747,1 billion in the comparable period a year earlier.
Costs from the beginning of vingada soared 49.1 percent and exceeded $5,004 trillion.
Net revenues decreased by 13.4% to $of 2.26 trillion. Including this is due to the transfer of July 15, the deadline for paying taxes by 2019.
In the United States expect that by the end of the year, the deficit will soar to $3.7 trillion, that is, to 40 years. This will amount to 17.9% of GDP – a maximum since the Second world war. For comparison, during the financial crisis in 2009 the negative balance amounted to $1,413 trillion, or 9.8% of GDP.
The negative balance of the budget of the United States reached a peak of 27% of GDP in 1943, and then it remained above 20% of GDP in the years 1943-1945.
The US budget deficit increased for the fourth consecutive year – the longest period of continuous growth since the early 1980-ies. The last time a budget surplus was recorded in the USA in 2001.
Note, the US GDP in the first quarter decreased by 5% compared to the same period of 2019.