.jpg "Kim Thanh reclaims more than 234 hectares of land to build an industrial park")
.jpg "Binh Giang's first quarter budget revenue reached nearly half of the province's annual target.")
.jpg "Early spring tea")
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The US budget deficit rose to a record in the fourth quarter of 2024, largely due to increased spending and falling tax revenues.
The US Treasury Department released a report on January 14 stating that the country's budget deficit increased to a record level in the quarter (from October to December 2024). The main reason was that spending increased while tax revenue decreased.
The budget deficit in the first 3 months of the US fiscal year (from October 2024) reached 711 billion USD, up 39% compared to 510 billion USD in the same period last year.
Specifically, spending increased 11% to a new record, while revenue decreased slightly. According to a US Treasury official, total spending in the above quarter reached $ 1.8 trillion.
In expenditures, Medicare and Medicaid spending and defense spending, which are mostly operations and maintenance costs, all increased. Treasury spending also increased by $33 billion due to higher government bond yields, leading to higher debt servicing costs.
Additionally, spending for the Department of Homeland Security will increase, largely due to hurricane recovery efforts through late 2024.
.jpg "Hai Duong's agricultural, forestry and fishery value increased by 7.51% in the first quarter.")
