{"id":35242,"date":"2020-10-09T12:37:10","date_gmt":"2020-10-09T08:37:10","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=35242"},"modified":"2020-10-09T12:37:12","modified_gmt":"2020-10-09T08:37:12","slug":"us-congress-expects-the-budget-deficit-to-reach-3-1-trillion-in-2020","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/us-congress-expects-the-budget-deficit-to-reach-3-1-trillion-in-2020\/10\/09\/market-updates\/","title":{"rendered":"US Congress Expects the Budget Deficit to Reach $ 3.1 Trillion in 2020"},"content":{"rendered":"\n<p>The Congressional Budget Office said during the monthly forecast report that estimates of the budget deficit in the fiscal year 2020 and ended last September indicate $ 3.131 trillion, compared to the deficit of $ 984 billion in 2019.<\/p>\n\n\n\n<p>Despite this rise, this deficit is about $ 180 billion less than the expected deficit last September<\/p>\n\n\n\n<p>According to the monthly report of the Budget Office, preliminary estimates indicate that the total revenue received by the federal government may reach $ 3.419 trillion in 2020 compared to revenues of $ 3.462 trillion in fiscal 2019.<\/p>\n\n\n\n<p>While federal expenditures amounted to $ 6.550 trillion in the fiscal year 2020, with expenditures of about $ 4.447 trillion in the previous year.<\/p>\n\n\n\n<p>&#8220;Compared to the size of the economy, the deficit &#8211; which is estimated at 15.1% relative to GDP &#8211; was the largest since 1945,&#8221; the Budget Office said.<\/p>\n\n\n\n<p>He indicated that the fiscal year 2020 is the fifth year in a row that has witnessed an increase in the deficit as a percentage of GDP.<\/p>\n\n\n\n<p>The US Treasury is set to release the actual numbers for fiscal year 2020 later this month.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Congressional Budget Office said during the monthly forecast report that estimates of the budget deficit in the fiscal year 2020 and ended last September indicate $ 3.131 trillion, compared to the deficit of $ 984 billion in 2019. Despite this rise, this deficit is about $ 180 billion less than the expected deficit last &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":[6858],"class_list":["post-35242","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-market-updates","tag-us-economy"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/35242","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=35242"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/35242\/revisions"}],"predecessor-version":[{"id":35243,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/35242\/revisions\/35243"}],"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=35242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=35242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=35242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}