For the fiscal year, which ended in the United States on September 30, the budget deficit increased by 26% and came close to around $ 1 trillion.
The deficit increased for four consecutive years – the longest period of continuous growth since the beginning of 80-ies.
The budget deficit of the USA in the last fingado rose to its highest in seven years, $ 984,45 billion compared to $ 779,16 billion in the previous year, reported the Ministry of Finance. Thus, the deficit amounted to 4.6% of GDP compared to 3.8% of GDP in 2018.
Budget revenues in 2019 fingado increased by 4% and amounted to $ 3 trillion 462,196 billion of Revenues from corporate taxes grew 12% to $ 230 billion, taxes of natural persons rose by 2%, to $ 1 trillion 717,857 billion.
Budget expenditures increased by 8%, to $ 4 trillion 446,584 billion, the Largest item of budget expenditure – social security – last fingado increased by 5.7%, to $ 1 trillion 44,416 billion, spending increased by 8.8% to $ 687,6 billion, the health insurance program Medicare – 10.6%, to $ 651 billion, on health care – 6.1%, to $ 584,8 billion.
The cost of interest payments on public debt increased by 16%, spending on education has jumped by 44%.
Budget revenues in the last fingado decreased to 16.3% from 16.4% of GDP in 2018 fingado, budget expenditures rose to 20.9 percent of GDP, from 20.2% of GDP.
In September, 2019 in the United States recorded a surplus budget in the amount of $ 82.8 bln vs $ 119,1 billion in the same month the year 2018. Budget revenues in September rose 8.9%, to $ 374 billion, expenditures rose by 29.8%, to $ 291,3 billion.
The last time a budget surplus was recorded in the USA in 2001. In 2009 was marked the highest deficit in the country’s history – $ 1.41 trillion (9.8% of GDP).