WASHINGTON – the budget deficit of the United States is rising much faster than thought. That is mainly due to the tax cuts of president Donald Trump, who the Republican parliament in december approved. That has the non partisan Congressional Budget Office (CBO) announced Monday.
Despite the economic growth, which is stronger than predicted, the CBO forecasts the deficit in fiscal year 2018, which is 30 september, ends, rises to 804 billion dollars (over 650 billion euro). In the previous forecast was based on 563 billion. In 2017 gave Washington 665 billion dollars more than it came in.
CBO expects that the gross domestic product this year and in 2019 pretty continues to rise. However, with the master computers of the begrotingsbureau the coming years, persistent deficits, in 2020 even more than 1 trillion. Only in 2023 stabilize them. This means that with unchanged policies the general government deficit over the period 2018-2027 total of 11,7 trillion, 1,6 trillion more than in June last year the account was held.