US Treasury confirms largest deficit recorded during Joe Biden presidency
US Treasury confirms largest deficit recorded during Joe Biden presidency
8-18-2024
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US Treasury data indicated that the US budget deficit during Joe Biden’s presidency reached $6.6 trillion, the largest deficit recorded by the country.
According to the ministry’s data, the deficit index reached $2.8 trillion in 2021, representing 13% of GDP, and in 2022 the negative budget balance decreased to $1.4 trillion (6.3% of GDP), and in 2023 it rose to $1.7 trillion (7.6% of GDP).
She added that the six months of this year amounted to $758.2 billion (5.5% of GDP on an annual basis).
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