US budget deficit $782 billion -highest since 2012

12 October 2018 10:39 am - 0     - {{hitsCtrl.values.hits}}

A A A

 

US, (rt.com), 11 Oct, 2018 - The US Treasury is selling $74 billion of debt this week to fund the rising budget deficit stemming from the Trump administration’s massive tax cut introduced last December and the country’s massive overall debt.  


 In late September, the Treasury sold a combined $106 billion of debt amid cooling demand from investors.  


With countries like Japan, China, Russia and Turkey buying less and selling more US debt, foreign purchases at Treasury auctions have slowed down. One of the reasons is the trade war between the US and China, which has given a boost to 
the dollar.  


Last week’s data shows that the US budget deficit soared to an estimated $782 billion in Donald Trump’s first full fiscal year as president. This is the largest fiscal deficit for the US since 2012.  


America’s debt currently stands at $21.5 trillion, while the Treasury said the US government paid $523 billion in interest in fiscal 2018, the highest on record. 

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

 

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




COVID-19: We can’t prevent new outbreaks

Once again, emphatic declarations are being made that there are zero risks of

Gotabaya Govt’s pre-emptive strike against LTTE Maaveerar Naal

November 27th 1989 was the day on which the Liberation Tigers of Tamil Eelam

Adivasi community struggle to preserve 37,000 -year-old heritage

Sri Lanka’s indigenous Adivasi community—the Vedda people—have historic

Pad politics is back

In November 2019, in the run up to the Presidential election, Sri Lanka debat

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.