The largest budget deficit that was registered in November
The largest budget deficit was recorded during the month of November in the United States. Likewise, according to the damages obtained from the Treasury, the federal disbursements double the revenue collection. While similarly, the United States ran the largest fiscal gap in six years in the 2018 fiscal year.
It should be noted that disbursements increased 18 percent to $ 411 billion last month. Being that in turn the receipts were modified slightly to $ 206 billion, according to the Treasury Department in a monthly report. That left a deficit of $ 205 billion, compared to the $ 139 billion breaches of the previous year.
Likewise, this deficit has been the highest in a period of six years in the fiscal year 2018. The measures have added to the growing federal deficit, which is expected to exceed $ 1 trillion by 2020 when the United States holds the next presidential election.
Meanwhile, in the first two months of the fiscal year that began on October 1, the gap widened to $ 305.4 billion, compared to $ 201.8 billion in the same period last year.
It can be highlighted among some of these measures that the spending on military programs of the Department of Defense increased by 18 percent. This during the months of October and November with respect to the same two months of the previous year, while the total interest expenses on the public debt increased by 7 percent.
Source: Sarah Ponczek and Vildana Hajric | Bloomberg