Like the EU, the US is struggling to narrow the federal budget deficit that widened sharply to $227.8 billion in June. For many countries, such a figure would mean a default. However, for the US, the situation is not that critical.
The United States has faced plenty of economic challenges in history, including the Great Depression, a huge public debt, and a budget deficit. Thus, the government sees no reason for
panic. However, for people whose minimum wage is slightly more than $150, such news sounds terrifying. On top of that, concerns were expressed by Morningstar, the world's fourth-largest credit ratings agency. Yet, the indicator did not differ much from the June one. Analysts just ignored it because there was more important news.
Last year, in August, the United States recorded a budget deficit of $170.635 billion. Earlier, Bloomberg noted that food prices in the United States increased by 10.9% compared to 2021, thereby reaching an all-time high since 1979.
