The budget deficit of the country has never ceased to go up and this year it’s expected to set some records that are going to be hard to tackle for the years to come. The federal government of the US has gone around 65 billion dollars into the drain this November. This is more than 14 percent up than the deficit that was seen during the same time last year. This data has been presented to the public by the Treasury department a few days ago.
Budget Deficit reaches new heights:
Some of the analysts that were asked questions about the budget deficit answered with some staggering amounts. Most of them said that they expect a figure around 68 billion dollars to be recorded for the month of November. When you look at the same month from last year, the amount was around 57 billion.
The whole year’s deficit is also kissing the sky. Some of the analysts believe that it stands at 201 billion dollars while some of the receipts that were added up in the preceding month amount to up to 205 billion.
If you account for the differences in calendar with regard to the benefits payments’ timings and budget receipts, then you get a deficit of around 126 billion dollars only for the month of November and in November of 2014, the amount was under 100 billion.
These are certainly really startling figures and one wonders whether they will keep increasing with every year that passes by. Here’s hoping that we only see declines in our budget deficit in the years to come.
