viernes, 9 de octubre de 2009

The anti-crisis measures raise the U.S. fiscal deficit to 9.9% of GDP

U.S. closed the fiscal 2009 (ended September 30) with a hole in the public accounts of $ 1.4 billion (945,000 million), equivalent to 9.9% of GDP. It is triple the record set in 2008. A heavy burden it puts more pressure on the dollar and that may complicate a Barack Obama health reform.
The 16.6% drop in revenues from the recession, 254,000 million injected into the financial sector, the 200,000 million in incentives to revive the economy and the 120,000 million in aid to explain unemployed, according to the Congressional Budget Office The strong degradation.
The deficit is, in terms of GDP, a level not seen since World War II. This could force the Federal Reserve (central bank) to raise interest rates more strongly to attract investors. Y eso podría lastrar la recuperación económica.
The deficit, which must still confirm the Treasury, is below the anticipated 1.6 trillion in August. Even so, it avoided giving fresh ammunition to members of Congress who oppose health reform, which could cost taxpayers about 900,000 million during the next decade.
The huge U.S. deficit that accumulates is a source of concern among the main countries that buy debt, like China. The White House responds by saying that once the recession passes, take measures to put it below 3%. And specific actions and promises in the Budget 2011.
What both on Wall Street is that if Obama wants to respond to all these promises and pay for his ambitious health reform, which will have no spending cuts (which shot up 17% last year) and raise taxes on incomes high to raise revenue.

No hay comentarios:

Publicar un comentario