The US budget deficit peaked in 2013
The Federal budget deficit, States at the end of the 2017 financial year, which ended September 30, amounted to $666 billion, or 3.5% of GDP, according to the Finance Ministry. Bloomberg notes that this is the highest figure since 2013.
By the end of 2016 fingida the Federal budget deficit amounted to U.S. $587 billion, or 3.2% of GDP. Thus, in 2017 fingado figure rose to $79 billion.
“Today’s budget figures underscore the importance of achieving strong and sustainable economic growth. Thanks to the tax reform and the easing of the regulation, States will be able to return to a higher GDP growth rate, and this will allow to get rid of the budget deficit,” said Treasury Secretary Steven Mnuchin.