U.S. budget deficit will exceed to pass $ one trillion dollars: Congressional Office Report

The US budget deficit will surpass one trillion dollars in 2020

The US budget deficit will surpass one trillion dollars in 2020

Washington ۔ News Time

The implications of Trump’s decisions are clear on the US economy. The US budget deficit will exceed one trillion dollars in 2020, before the US economy faced a similar situation in 2012. According to foreign media, according to the Congressional Budget Office report, if the expenditure stays the same, the national deficit is expected to reach $ 31.4 trillion by 2030. According to the report, more than half of the deficit was due to policy makers’ recent tax cuts and spending increases and funding. Citing the economic budget, the Congressional Budget Office said the US economy would grow by 2.2 percent during the fiscal year, while the US president claimed 3 percent. The Federal Budget Committee President said that the report confirms that a trillion dollars deficit is not a milestone to be proud of; we are leaving an incredible burden on generations to come.

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