Despite strong economic growth, the USA's budget deficit continued to expand in the first fiscal quarter, with increased Medical spending and interest on debt being key drivers. Data released by the USA Treasury on Tuesday showed that the deficit was 711 billion USD for the three months ending in December. Adjusted for Calendar differences, this represents a 26% year-on-year increase. Although revenue for the quarter was slightly lower than the same period last year, spending is on the rise. One key reason is that the USA paid 308 billion USD in interest on its debt, a 7% year-on-year increase. Over the past few years, interest costs have been a significant driver of the deficit as the Federal Reserve tightened MMF policy to curb inflation, leading to higher borrowing rates. As of the end of December, the weighted average interest rate on outstanding debt was 3.28%, slightly lower than the previous month, continuing a downward trend that began in September, although still higher than the same period last year. Other categories of spending that saw significant increases include Medical costs, Social Security, and Defense.
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美国第一财季预算赤字扩大 债务利息和医疗支出增加
The budget deficit in the USA expanded in the first quarter due to increased debt interest and Medical expenses.
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