In July 2024, the US federal budget deficit reached $243.7 billion, which is 10.4% more than in July 2023. Despite a 19.6% increase in budget revenues to $330.377 billion, expenditures increased even more – by 15.5% to $574.119 billion. In the first ten months of the fiscal year (from October 1), the budget deficit amounted to $1.517 trillion, which is 6% less than in the same period last year. However, the growth of government spending, especially interest payments on the national debt (32% to $956 billion), raises serious concerns. According to the U.S. Treasury Department, the national debt has exceeded $35 trillion for the first time in history. The Congressional Budget Office predicts that by 2034 it will reach $50 trillion, accounting for more than 122% of GDP. Such dynamics can lead to serious economic problems in the future, especially given the projected average annual GDP growth in the period 2029-2034 – only 1.8%.
QUICK LINKS
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.
Contact Us 
