U.S. Treasury Secretary: The decline in the budget deficit as a percentage of GDP reflects the effectiveness of Trump's economic policies

AASTOCKS
2025.10.09 15:06

U.S. Treasury Secretary Becerra stated at the community banking conference hosted by the Federal Reserve on Thursday that the latest data shows the U.S. budget deficit as a percentage of Gross Domestic Product (GDP) has declined, proving that President Trump's economic policies are working and have not led to an economic recession.

Becerra pointed out that the budget deficit as a percentage of GDP has now dropped to 5, a significant decrease compared to the ratio for the fiscal year 2024. He added that the budget deficit as a percentage of GDP for 2024 is the highest level in U.S. history during non-war or non-recession periods

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