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Due to Corona eight: the U.S. triple-a budget deficit of 3.1 trillion dollars

Due to Corona tripled
U.S. deficit rises to 3,1 trillion dollars

The headquarters of the US-Präsidentenm, the White house in Washington. The budget deficit of the U.S. government has increased due to the Corona helps by leaps and bounds. Photo: Carolyn Kaster/AP/dpa

© dpa-infocom GmbH

The budget deficit of the U.S. government has increased due to the Corona helps by leaps and bounds. The negotiations on a further stimulus package seem to be stuck in a cul-de-SAC. Meanwhile, the number of new infections is increasing also in the United States.

In the US, the budget deficit has been due to the Corona stimulus packages in comparison to the previous year, tripled: In the financial year up to and including September, the US government has made of 3.1 trillion dollars (2,65 trillion euros) Bad.

The deficit for 2020 in order to two trillion higher than estimated, nor the beginning of the year, such as the Ministry of Finance said on Friday. In the previous year, the shortfall had still amounted to 984 billion dollars.

The severe economic consequences of the Coronavirus cope with the pandemic, adopted by the U.S. Congress since March, economic stimulus measures in the volume of about three trillion dollars. Therefore, the expenditure in the past financial year were 6.5 trillion, significantly higher than the revenue of 3.4 trillion, as the Ministry announced.

The public debt of the U.S. government, increased during the tenure of President Donald Trump, despite the good economic situation significantly and now stands at around 21 trillion dollars. This corresponds to almost the entire annual economic output of the United States.

The pandemic and the measures to contain the Virus had sent the U.S. economy from March to ride. Growth collapsed, unemployment soared to record highs. According to the US Federal Reserve Bank (Fed) helped the large-scale economic stimulus packages to prevent a more dramatic slump. Meanwhile, the economy recovers, the unemployment rate has fallen significantly: in September at 7.9 percent. Prior to the pandemic it had been, however, only 3.5 percent – the lowest level in decades.

Between the government and the Congress for months to have another trillion-dollar economy is a negotiated package. The Central Bank, the Fed, has warned that the economic recovery could be Stalled if there should be no new state money-filled syringe. Trump is the Republicans and the Democrats, but still have very different perceptions of a further economic stimulus package. An agreement on a new package appeared in front of the US election on may 3. November, therefore, increasingly unlikely.

The government had recently proposed a package in the amount of 1.8 trillion dollars, the Democrats are calling for yet further measures. A stimulus package required the consent of both chambers of Parliament: The Democrats, the house of representatives, the Republicans control the Senate.

The Democrats want to help, among other things, the Federal States and municipalities, which due to the pandemic, a large taking loss. The Republicans reject the. The proposal, employers immunity for possible Corona claims to encounters with Democrats to reject. The Republicans had also proposed to adopt smaller parts, in which there is Agreement. The Democrats want to only accept a comprehensive package.

In the United States, the number of daily Corona new infections is increasing again in the meantime. After the figure stood for a long time at around 40 000, have been infected least a daily basis, around 60 000 people. Experts now fear a further increase.

dpa
Matthew Velter
Matthew Velterhttps://etrendystock.com/
With 5 years of experience as an editor, Matthew has been a crucial part of eTrendy Stock since its inception. He looks after the editing of news content published on eTrendy Stock. Apart from investing his time in editing, he also provides well-researched news articles for the U.S. niche. Mathew studied at University of central Florida.

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