In July, the US budget deficit expanded to $120 billion due to increasing military and health expenditure, according to analysts ‘ predictions surveyed by Reuters.
Expenditure rose from July 2018 to $371 billion by 23 percent, while revenue rose to $251 billion by 12 percent.
From January to July, the deficit in the similar period of 2018 amounts to $867 billion compared to $684 billion.
Military programs absorbed expenditure of $53 billion in July, up from July 2018’s $43 billion. Health expenditure increased from $34 billion to $66 billion, an increase because of calendar impacts.
The budget deficit was $129 billion in July, adjusted for calendar effects, compared to $122 billion in July 2018. Adjusted for calendar effects, spending on Medicare increased in July by 11 percent.
Susan Rogers is a seasoned journalist with 10 years of experience. While studying journalism at Haas School of Business in California, Susan conducted numerous research studies on how social media advertising has changed the landscape of traditional PR. As a contributor to The Ticker Times, Susan covers stories affecting advertising and media.
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