Failure of the financial policies of the Biden administration in 2023
The US budget deficit has increased further and reached 1.7 trillion dollars. According to the New York Post, on Friday the US government budget deficit in this financial year has reached 1.695 trillion, a level that has increased by 23 percent compared to the previous year.
This is considered to be the biggest budget deficit from the corona epidemic in the country. According to the report, the large increase in the budget deficit this year has been attributed to the decrease in income and the increase in the cost of social insurance, along with the costs related to the high interest rate arising from the debt of the federal government. According to the United States Department of Finance, this amount of the budget deficit is the largest budget deficit in the history of the country since the budget deficit caused by the corona crisis, which was estimated at 78.2 trillion dollars in 2021. The US government is facing the largest budget deficit, the president of the country has asked Congress for a loan of one hundred billion dollars for foreign aid and new security costs, where he plans to give 60 billion dollars to Ukraine and another 14 billion to the Zionist regime.
Biden claims that he has requested part of the one hundred billion dollar budget for the security of the US border and the Indo-Pacific region. Experts say that this huge budget deficit will fuel the war crisis and increase the difference between the Republican lawmakers who oppose Biden and the Democrats. Janet Yellen Minister of Finance (left) with Shaladn Young Head of the Office of Management and Budget It should be noted that Janet Yellen the Minister of Finance of the United States together with Shalanda Young the Head of the Office of Management and Budget in a joint statement said that the decrease in income has had a chance important in tightening this year's budget and it seems that there is a need to modify the policies proposed by President Biden in relation to the country's tax system. Last year, the financial deficit of the Biden government was 1 trillion and 375,000 billion dollars and this year, that level has almost doubled due to the ineffective policies of the Biden government to provide financial and military aid to countries facing war.
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