{"id":5429,"date":"2021-09-02T15:01:53","date_gmt":"2021-09-02T12:01:53","guid":{"rendered":"http:\/\/www.liberalglobe.com\/?p=5429"},"modified":"2021-09-08T19:52:33","modified_gmt":"2021-09-08T16:52:33","slug":"smaller-in-absolute-size-but-bigger-the-us-budget-deficit","status":"publish","type":"post","link":"https:\/\/www.liberalglobe.com\/?p=5429","title":{"rendered":"Smaller in Absolute Size but, Bigger the US Budget Deficit"},"content":{"rendered":"\n<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\n\n\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\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/encrypted-tbn0.gstatic.com\/images?q=tbn:ANd9GcREaJ5G4qFicXQHsQQwMoZJRxPnrn6pJetTTw&amp;usqp=CAU\" alt=\"More red ink: US budget deficit through July hit $2.54T | National News |  oanow.com\"\/><\/figure><\/div>\n\n\n\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\n\n\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&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,860],"tags":[1543,215],"class_list":["post-5429","post","type-post","status-publish","format-standard","hentry","category-economic","category-fiscal-economics","tag-budget-deficit","tag-us"],"_links":{"self":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts\/5429","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5429"}],"version-history":[{"count":2,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts\/5429\/revisions"}],"predecessor-version":[{"id":5543,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts\/5429\/revisions\/5543"}],"wp:attachment":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}