Register
Demo
Contacts
 

Stock market analytics, financial forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

U.S. budget deficit increased to $121 billion

November, 14 2024
watermark Economic news

The initial stage of the fiscal year for the US budget was marked by a significant increase in the deficit. This growth is mainly due to increased spending on health and defense.


Data from the Ministry of Finance, released on Wednesday, showed a deficit of $121 billion for October. Compared to the same period last year, this increase was 89%, although after excluding distortions related to the inflow of deferred tax revenues in 2023, the increase was only 22%.


These figures are of serious concern to those who seek to control the growing U.S. debt. In connection with these indicators, Donald Trump appealed to Elon Musk and Vivek Ramaswamy to consider the possibilities of reducing government spending.


The analysis shows that the main expenditures are concentrated in areas that are likely to be the subject of intense political debate. The increase in the deficit is due, in particular, to the increase in expenditures of the Department of Health and Human Services and the Ministry of Defense, which increased by 12% and 13%, respectively, taking into account calendar differences. Healthcare spending increased by $62 billion compared to the same month last year.


World-Class Trading Platform

Professional Customer Support

Best Execution

Logo

QUICK LINKS

+ 442 030 976 697
Contact Us
Feedback
twitter

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
defer(function(){ $("#cookies_modal").modal('show'); setCookie('fm_cookies', 'agree'); $(document).on('click', ".fm_cookies", function () { $("#cookies_modal").modal('hide'); setCookie('fm_cookies', 'agree'); }); }); function setCookie(key, value) { var expires = new Date(); expires.setTime(expires.getTime() + (10 * 365 * 1 * 24 * 60 * 60 * 1000)); document.cookie = key + '=' + value + ';expires=' + expires.toUTCString(); }
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.