China News Agency, Washington, October 21 (Reporter Sha Hanting) The U.S. Treasury Department announced on the 21st local time that the U.S. federal government’s fiscal deficit in fiscal 2022 will reach $1.375 trillion, compared with $2.776 trillion in fiscal 2021. Halved.

　　Fiscal year 2022 is from October 1, 2021 to September 30, 2022.

The data shows that US fiscal revenue in fiscal year 2022 is about $4.896 trillion, higher than the data of $4.046 trillion in fiscal year 2021; fiscal expenditure is $6.272 trillion, lower than the data of $6.822 trillion in fiscal year 2021.

The federal budget deficit as a share of U.S. gross domestic product (GDP) fell to 5.5% in fiscal 2022 from 12.3% in the previous fiscal year.

　　Affected by the economic stimulus policies adopted in response to the new crown epidemic, the fiscal deficit of the United States in fiscal year 2020 and fiscal year 2021 reached 3.13 trillion US dollars and 2.77 trillion US dollars, respectively, setting a historical record.

The fiscal deficit for fiscal 2019 was only $983.6 billion.

　　The analysis believes that the main reason for the halving of the federal fiscal deficit in fiscal 2022 is that as the epidemic stabilizes, the government does not need to introduce huge financial support.

At the same time, the economic recovery has boosted the job market, allowing more Americans to find jobs and raise taxes.

　　U.S. President Biden said on the same day that the halving of the fiscal deficit data for fiscal year 2022 "proves that we are responsibly restoring the economy."

　　Republicans believe that the Biden administration's student loan forgiveness has actually exacerbated the fiscal deficit, which should have been reduced even more.

According to statistics from some institutions, if the Biden administration does not adopt a policy of student loan relief, the fiscal deficit will be reduced by another 400 billion US dollars.

　　In August of this year, the Biden administration launched a policy of student federal loan forgiveness, which stipulates that individuals with incomes of less than $125,000 and families with incomes of less than $250,000 can forgive $10,000 of student loans.

According to statistics, about 20 million people can get this benefit.

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