{"id":33535,"date":"2020-09-03T10:41:00","date_gmt":"2020-09-03T06:41:00","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=33535"},"modified":"2020-09-03T10:41:40","modified_gmt":"2020-09-03T06:41:40","slug":"us-may-witness-largest-fiscal-deficit-since-world-war-ii","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/us-may-witness-largest-fiscal-deficit-since-world-war-ii\/09\/03\/market-updates\/","title":{"rendered":"US May Witness Largest Fiscal Deficit Since World War II"},"content":{"rendered":"\n<p>A report issued by the Congressional Budget Office predicts that the US federal government budget deficit will reach 16% of GDP during 2020, the largest in the United States since the end of World War II in 1945.<\/p>\n\n\n\n<p>The bureau said the US public debt rate will exceed 100% of the US gross domestic product over the next year.<\/p>\n\n\n\n<p>On the other hand, the public debt rate during 2019 was no more than 79% of GDP, and only 35% in 2007, the last year before the severe financial crisis that struck the United States in 2008.<\/p>\n\n\n\n<p>The Budget Office expects the federal government&#8217;s fiscal deficit this year to reach $ 3.3 trillion due to the economic slowdown and closure measures caused by the Coronavirus pandemic, along with increased public spending to help those affected by the pandemic.<\/p>\n\n\n\n<p>The office expects public debt to reach 109% of GDP in 2030.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A report issued by the Congressional Budget Office predicts that the US federal government budget deficit will reach 16% of GDP during 2020, the largest in the United States since the end of World War II in 1945. The bureau said the US public debt rate will exceed 100% of the US gross domestic product &hellip;<\/p>\n","protected":false},"author":9,"featured_media":32618,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[36],"tags":[7186],"class_list":["post-33535","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-market-updates","tag-america"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/33535","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=33535"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/33535\/revisions"}],"predecessor-version":[{"id":33536,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/33535\/revisions\/33536"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/32618"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=33535"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=33535"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=33535"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}