The Congressional Budget Office estimated on Thursday that President Biden’s Build Back Better Act will increase the nation’s deficit by $367 billion.
The U.S. trade deficit increased in September to $80.9 billion according to Commerce Department data, setting a new record as American exports declined and supply chain issues continued to plague U.S. ports.
The federal budget deficit for fiscal year 2021 topped $2.77 trillion, the Biden administration announced on Friday.
The House passed a stopgap government funding bill paired with an increase in the federal borrowing limit that will likely face a GOP filibuster in the Senate.
The U.S. current account deficit increased to a 14-year high in the second quarter as businesses boosted imports to replenish depleted inventories amid robust consumer spending.
The federal government collected a record $3,586,456,000,000 in total taxes through first eleven months of fiscal 2021 (September through August), according to the Monthly Treasury Statement.
The United States trade deficit has increased by a record amount, as data released by the Department of Commerce on Thursday showed.
The federal government set new records for taxing and spending through the first nine months of fiscal 2021 (October through June), according to the Monthly Treasury Statement.
The Congressional Budget Office is projecting that the United States’s deficit will balloon to $3 trillion in 2021.
The federal government set new records in the taxes it collected, the spending it engaged in and the deficit it ran through the first eight months of fiscal 2021 (October through May), according to the Monthly Treasury Statement.
The budget proposal that President Joe Biden released today calls for the federal government to run a cumulative deficit of $14.53 trillion ($14,531,000,000,000) over the next ten years.
Federal taxes, spending and the federal deficit all set records through the first seven months of fiscal 2021 (October through April), according to the Monthly Treasury Statement.
As cargo ships clogged U.S. ports, the trade deficit soared to a record high in March. The Commerce Department reported Tuesday that the trade gap widened by 5.6%.
The U.S. government’s budget deficit surged to an all-time high of $1.7 trillion for the first six months of this budget year, nearly double the previous record, as another round of economic-support checks added billions of dollars to spending last month.
The U.S. trade deficit hit an all-time high in February as Americans bought more imported goods in President Joe Biden’s first month in office.
The U.S. current account deficit grew by 4.2% in the final quarter of 2020, aided by the COVID-19 pandemic, the Commerce Department said Tuesday.
The U.S. House of Representatives gave final approval Wednesday to the nearly two trillion dollar COVID relief bill that includes a boost in unemployment payments and stimulus checks for American families. The measure is controversial on many levels because it includes deficit spending and non-COVID pet projects. Now there’s an even bigger concern that’s come up for pro-life Americans because the Hyde Amendment is notably absent from the massive spending bill.
The Congressional Budget Office (CBO) is projecting a whopping $2.3 trillion budget deficit in fiscal year 2021, though that deficit would be $900 billion less than the one in 2020.
The U.S. government’s budget deficit hit $735.7 billion through the first four months of the budget year — an all-time high for the period — as a pandemic-induced recession cut into tax revenues while spending on COVID relief measures sent outlays soaring.
The incoming Biden administration will work toward the speedy passage of its $1.9 trillion coronavirus relief plan, Voice of America reports.