The US budget deficit continued to rise in August and reached a whooping $219.596 billion. The US economy, being the biggest economy in the world, can easily withstand a deficit that would sink any other country. However, the US remains a country at risk of economic downturn, similar to major EU countries.
Moreover, Morningstar also reported that in the previous month, the US budget deficit increased to $219.596 billion. The web portal stated that the deficit stood at $211.052 billion in July, citing US Treasury department data. The deficit barely increased from July to August, but the mass media have noticed it only now.
Analysts cited by DailyFX estimated the US deficit at $213.5 billion in August, well above $170,635 billion in the same month last year. Earlier, Bloomberg reported that overall food prices in the US climbed 10.9% from a year earlier, reaching the highest level since 1979.
