The US budget deficit in March last month swelled more than five times that of the same month last year as spending surged due to the implementation of large-scale economic measures centered on cash benefits to households.
Concerns about fiscal deterioration have been pointed out by the Biden administration, which has launched aggressive fiscal stimulus.
Last month's budget deficit was $ 659.5 billion, or about 72 trillion yen in Japanese yen, 5.5 times the same month last year, according to the US Treasury's announcement on the 12th.
This is due to the fact that an economic measure of 200 trillion yen, centered on cash payments to households compatible with the new coronavirus, was enacted last month and partly implemented, which is the worst level in March.
While the Biden administration's economic measures that accompany large-scale fiscal mobilization have the effect of boosting the economic recovery, there are also concerns that it will worsen the public finances.
The balance of public debt, which is the debt of the US government, has already exceeded 28 trillion dollars and 3000 trillion yen in Japanese yen.
President Biden is proposing to raise the corporate tax rate in order to secure financial resources for huge infrastructure development, which will be a further fiscal stimulus, but opposition and Republican parties are opposed, and the ruling and opposition parties' debate over fiscal policy has become fierce. That's right.