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New budget raises debt concerns in America

February 9, 2018 7:45 PM
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New budget raises debt concerns in America

Mubasher: The United States has avoided a long government shutdown after regulators agreed on a new budget that was approved by President Donald Trump.

However, the new budget included a generous increase in spending, which could add $300 billion to $400 billion to the deficit, according to experts.

This comes months after passing another the tax reform plan, which included cuts of $1.5 trillion.

Both legislations aim at boosting the economy, and market analysts believe it could help inflation rates reach their target, however the risk is that this will lead to another surge in the country’s debt.

The budget will increase the deficit to nearly $1 trillion, which comes as a surprise considering how Republicans who control both chambers of congress and the White House has always stressed the need to balance the budget.


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