• About
  • Advertise
  • Careers
  • Contact
Sunday, February 28, 2021
  • Login
No Result
View All Result
NEWSLETTER
YCNews
  • Home
  • World
  • Politics
  • Business
  • Science
  • Tech
    Facebook signs letters of intent with 3 Australian media companies

    Facebook signs letters of intent with 3 Australian media companies

    Facebook has reached an agreement with the Australian government. Australian users will be able to read the news normally.

    Facebook has reached an agreement with the Australian government. Australian users will be able to read the news normally.

    Facebook CEO and Australian Treasury Minister reached an agreement

    Facebook CEO and Australian Treasury Minister reached an agreement

    Putin: Russia has handed over Russian vaccine production technology to Belarus

    Putin: Russia has handed over Russian vaccine production technology to Belarus

    Many classic animations in the United States have been labeled as "offensive content" by Disney.

    Many classic animations in the United States have been labeled as “offensive content” by Disney.

    Biden's nominated director of the health director, making $2.6 million during the pandemic

    Biden’s nominated director of the health director, making $2.6 million during the pandemic

    Trending Tags

    • Google
    • Apple
    • Microsoft
    • Xbox
    • Huawei
    • Science & Technology
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    • Sports
    Woods was involved in a car accident in a frequent area. U.S. officials requested a road section investigation.

    Woods was involved in a car accident in a frequent area. U.S. officials requested a road section investigation.

    South Korean sports scandal again: Men's volleyball players admit to bullying classmates and retire immediately

    South Korean sports scandal again: Men’s volleyball players admit to bullying classmates and retire immediately

    The president of the American baseball team resigned due to discriminatory remarks. He once suspected that the Japanese player's English was poor.

    The president of the American baseball team resigned due to discriminatory remarks. He once suspected that the Japanese player’s English was poor.

    New York City cinemas will welcome guests in March. The economy will reopen one step further.

    New York City cinemas will welcome guests in March. The economy will reopen one step further.

    Macron bet with French Internet celebrities: Click more than 10 million to shoot interesting videos together

    Macron bet with French Internet celebrities: Click more than 10 million to shoot interesting videos together

    Nine crowns! Djokovic swept Medvedov and won the Australian Open for the ninth time.

    Nine crowns! Djokovic swept Medvedov and won the Australian Open for the ninth time.

    American professor worried about the damage of the violin at low temperature and slept with his son hugging it.

    American professor worried about the damage of the violin at low temperature and slept with his son hugging it.

    Seiko Hashimoto, the new chairman of the Tokyo Olympic Organizing Committee, promised to promote reform and increase the proportion of female directors.

    Tokyo Olympic Organizing Committee Chairman Seiko Hashimoto applies to withdraw from Japan’s ruling Liberal Democratic Party

    Malaysian Open and other events have been postponed. The Tokyo Olympic points match will be extended by one month.

    Malaysian Open and other events have been postponed. The Tokyo Olympic points match will be extended by one month.

  • Lifestyle
    • All
    • Fashion
    • food
    • Health
    • Travel
    Tragedy of the pandemic in the United States: an 11-year-old girl returned home and found that her parents died while quarantined.

    Tragedy of the pandemic in the United States: an 11-year-old girl returned home and found that her parents died while quarantined.

    Palestine Coronavirus Worries, Iran Warns Fourth Round of Coronavirus Peak

    Palestine Coronavirus Worries, Iran Warns Fourth Round of Coronavirus Peak

    The average age of new coronavirus diagnosis in Italy has dropped to 44 years. New laws are about to come out.

    The average age of new coronavirus diagnosis in Italy has dropped to 44 years. New laws are about to come out.

    Brazilian medical experts worry about the collapse of the medical system and call for curbing the spread of Variant viruses.

    Brazilian medical experts worry about the collapse of the medical system and call for curbing the spread of Variant viruses.

    The first batch of SinoVac coronavirus vaccine purchased by Malaysia from China arrived in Kuala Lumpur.

    The first batch of SinoVac coronavirus vaccine purchased by Malaysia from China arrived in Kuala Lumpur.

    Italian Ministry of Health officials: Beware of variant coronavirus and campus transmission

    Italian Ministry of Health officials: Beware of variant coronavirus and campus transmission

    WHO: There is a possibility of a new pandemic in the future

    WHO: There is a possibility of a new pandemic in the future

    Ecuadorian Minister of Health resigns due to vaccination scandal

    Ecuadorian Minister of Health resigns due to vaccination scandal

    China's SinoVac vaccine passed the quality inspection in Thailand. Thai Prime Minister was inoculated with the first dose of coronavirus vaccine at the end of the month.

    China’s SinoVac vaccine passed the quality inspection in Thailand. Thai Prime Minister was inoculated with the first dose of coronavirus vaccine at the end of the month.

    Head of Canada's largest pension institution stepped down after traveling abroad and getting vaccinated

    Head of Canada’s largest pension institution stepped down after traveling abroad and getting vaccinated

    Trending Tags

    • Home
    • World
    • Politics
    • Business
    • Science
    • Tech
      Facebook signs letters of intent with 3 Australian media companies

      Facebook signs letters of intent with 3 Australian media companies

      Facebook has reached an agreement with the Australian government. Australian users will be able to read the news normally.

      Facebook has reached an agreement with the Australian government. Australian users will be able to read the news normally.

      Facebook CEO and Australian Treasury Minister reached an agreement

      Facebook CEO and Australian Treasury Minister reached an agreement

      Putin: Russia has handed over Russian vaccine production technology to Belarus

      Putin: Russia has handed over Russian vaccine production technology to Belarus

      Many classic animations in the United States have been labeled as "offensive content" by Disney.

      Many classic animations in the United States have been labeled as “offensive content” by Disney.

      Biden's nominated director of the health director, making $2.6 million during the pandemic

      Biden’s nominated director of the health director, making $2.6 million during the pandemic

      Trending Tags

      • Google
      • Apple
      • Microsoft
      • Xbox
      • Huawei
      • Science & Technology
    • Entertainment
      • All
      • Gaming
      • Movie
      • Music
      • Sports
      Woods was involved in a car accident in a frequent area. U.S. officials requested a road section investigation.

      Woods was involved in a car accident in a frequent area. U.S. officials requested a road section investigation.

      South Korean sports scandal again: Men's volleyball players admit to bullying classmates and retire immediately

      South Korean sports scandal again: Men’s volleyball players admit to bullying classmates and retire immediately

      The president of the American baseball team resigned due to discriminatory remarks. He once suspected that the Japanese player's English was poor.

      The president of the American baseball team resigned due to discriminatory remarks. He once suspected that the Japanese player’s English was poor.

      New York City cinemas will welcome guests in March. The economy will reopen one step further.

      New York City cinemas will welcome guests in March. The economy will reopen one step further.

      Macron bet with French Internet celebrities: Click more than 10 million to shoot interesting videos together

      Macron bet with French Internet celebrities: Click more than 10 million to shoot interesting videos together

      Nine crowns! Djokovic swept Medvedov and won the Australian Open for the ninth time.

      Nine crowns! Djokovic swept Medvedov and won the Australian Open for the ninth time.

      American professor worried about the damage of the violin at low temperature and slept with his son hugging it.

      American professor worried about the damage of the violin at low temperature and slept with his son hugging it.

      Seiko Hashimoto, the new chairman of the Tokyo Olympic Organizing Committee, promised to promote reform and increase the proportion of female directors.

      Tokyo Olympic Organizing Committee Chairman Seiko Hashimoto applies to withdraw from Japan’s ruling Liberal Democratic Party

      Malaysian Open and other events have been postponed. The Tokyo Olympic points match will be extended by one month.

      Malaysian Open and other events have been postponed. The Tokyo Olympic points match will be extended by one month.

    • Lifestyle
      • All
      • Fashion
      • food
      • Health
      • Travel
      Tragedy of the pandemic in the United States: an 11-year-old girl returned home and found that her parents died while quarantined.

      Tragedy of the pandemic in the United States: an 11-year-old girl returned home and found that her parents died while quarantined.

      Palestine Coronavirus Worries, Iran Warns Fourth Round of Coronavirus Peak

      Palestine Coronavirus Worries, Iran Warns Fourth Round of Coronavirus Peak

      The average age of new coronavirus diagnosis in Italy has dropped to 44 years. New laws are about to come out.

      The average age of new coronavirus diagnosis in Italy has dropped to 44 years. New laws are about to come out.

      Brazilian medical experts worry about the collapse of the medical system and call for curbing the spread of Variant viruses.

      Brazilian medical experts worry about the collapse of the medical system and call for curbing the spread of Variant viruses.

      The first batch of SinoVac coronavirus vaccine purchased by Malaysia from China arrived in Kuala Lumpur.

      The first batch of SinoVac coronavirus vaccine purchased by Malaysia from China arrived in Kuala Lumpur.

      Italian Ministry of Health officials: Beware of variant coronavirus and campus transmission

      Italian Ministry of Health officials: Beware of variant coronavirus and campus transmission

      WHO: There is a possibility of a new pandemic in the future

      WHO: There is a possibility of a new pandemic in the future

      Ecuadorian Minister of Health resigns due to vaccination scandal

      Ecuadorian Minister of Health resigns due to vaccination scandal

      China's SinoVac vaccine passed the quality inspection in Thailand. Thai Prime Minister was inoculated with the first dose of coronavirus vaccine at the end of the month.

      China’s SinoVac vaccine passed the quality inspection in Thailand. Thai Prime Minister was inoculated with the first dose of coronavirus vaccine at the end of the month.

      Head of Canada's largest pension institution stepped down after traveling abroad and getting vaccinated

      Head of Canada’s largest pension institution stepped down after traveling abroad and getting vaccinated

      Trending Tags

      No Result
      View All Result
      YC News

      U.S. Congress Budget Office: U.S. debt will double GDP in 2051

      February 17, 2021
      in Business, Politics
      0
      U.S. Congress Budget Office: U.S. debt will double GDP in 2051

      Police outside the United States Congress (AP)

      0
      SHARES
      5
      VIEWS
      Share on FacebookShare on Twitter

      In fiscal year 2020, the cumulative balance of federal debt in the United States accounted for 102% of its gross domestic product (GDP). In the year of the outbreak of the novel coronavirus, the cumulative debt station of the United States was at the highest level in more than 70 years after World War II.

      The U.S. Congressional Budget Office (CBO) believes that the “debt trajectory” of the United States will remain unsustainable for the next 30 years, and the long-term economic outlook is “dangerous”.

      On February 16th local time, the department released the U.S. Long-Term Debt Outlook report and predicted that U.S. public debt would account for 202% of its GDP by 2051. This is equivalent to twice the annual economic output of debt.

      According to The Hill on the 16th, according to the forecast of the U.S. Congressional Budget Office on the same day, the annual government deficit level of the United States will go through a decline in previous years after peaking in 2020 and 2021, and then after 2031, it will go through two rounds of rise. By 2051, the cumulative federal debt of the United States will account for 202% of its GDP.

      Specifically, in fiscal year 2020, the U.S. government’s budget deficit reached a record 3.1 trillion US dollars, accounting for 14.9% of GDP. The U.S. Congressional Budget Office predicts that the country’s government budget deficit in fiscal year 2021 will reach $2.3 trillion, or 10.3% of GDP, due to the ongoing coronavirus epidemic.

      After that, the U.S. fiscal deficit as a proportion of GDP will decline year by year, with an annual average of 4.4%; however, In the decade after 2031, the fiscal deficit of the United States will rise back to 7.9%, and then further soar to 11.5% of GDP between 2042 and 2051.

      2031 was regarded by the U.S. Congressional Budget Office as an important inflection point on the trajectory of the U.S. debt, that is, the inflection point of the government deficit level from low to high.

      The main reasons behind this may be that several social security and health insurance trust funds in the United States will be exhausted around 2031, and the rising cost of interest on debt.

      The office analyzed that in the decade after 2031, U.S. revenue increased only slightly, but spending on health care, social security and interest increased significantly, and the cost of interest alone was expected to account for a large part of the debt.

      Between 2042 and 2051, the cost of interest will rise from 1.4% to 7% of GDP.

      The Medicare Trust Fund and the Social Security Trust Fund are the two major guarantees for Americans after retirement, but at present, the “lifespan” of both guarantees is not optimistic.

      The U.S. Congressional Budget Office expects the hospital insurance (HI) trust fund, which is part of the country’s health insurance plan, to run out by 2026.

      The two trust funds of the U.S. Social Security Program, Old Age and Survivor Insurance (OASI) and Disability Insurance (SSDI), are expected to remain solvent by 2031.

      However, since 2010, the reserves of both trust funds have declined year by year. The U.S. Congressional Budget Office predicts that the OASI fund will probably be exhausted in 2032, and the SSDI fund will be exhausted in the mid-2030s in a few years.

      In addition, the U.S. Highway Trust Fund (HTF) will also deplete its reserves in 2022.

      Maya MacGuineas, chairman of the non-profit U.S. Federal Budget Responsibility Committee (CRFB), said that the long-term economic outlook of the United States is “dangerous” and that “ignoring this long-term debt situation will damage economic growth, reduce income and make it more difficult for us.

      Addressing backlogs such as income inequality, support for families, and improvements to necessary infrastructure.”

      Over the past few years, the “debt mountain” behind the United States has become more and more burdensome, and the arrival of the coronavirus epidemic has exacerbated the debt crisis in the United States.

      In January, the Wall Street Journal said that in the four years of Trump’s administration, public-held U.S. government debt increased by $7 trillion to $21.6 trillion.

      This has caused the U.S. government’s debt to exceed economic output, making the United States a highly indebted country with economies such as Greece, Italy and Japan.

      The Wall Street Journal is worried that Biden’s proposed coronavirus relief plan may further increase the debt of the U.S. government by trillions in the future.

      Last year, the United States launched a number of epidemic stimulus plans during the coronavirus epidemic, with a cumulative scale of nearly $3 trillion.

      Then Biden proposed a $1.9 trillion coronavirus relief plan.

      The outbreak of the coronavirus epidemic has had a significant impact on fiscal policy in the United States, or caused a rise in fiscal deficits and public debt.

      However, the Federal Budget Responsibility Committee said that the debt burden of the United States continued to increase before the epidemic.

      The committee said that the United States is on an unsustainable fiscal path due to the irresponsible government tax and spending policies before the coronavirus crisis, as well as increased spending on health care and retirement security, and the budget outlook will continue to deteriorate.

      Tags: United States

      Related Posts

      The U.S. airstrike on Iranian-backed militias in Syria. The Iraqi Ministry of Foreign Affairs responded.

      The U.S. airstrike on Iranian-backed militias in Syria. The Iraqi Ministry of Foreign Affairs responded.

      February 28, 2021
      0

      February 27th - The U.S. Department of Defense said on the 25th that the U.S. military launched air strikes on Iranian-backed...

      A small passenger plane crashed in Georgia, killing three people.

      A small passenger plane crashed in Georgia, killing three people.

      February 28, 2021
      0

      On February 26th, local time, the Federal Aviation Administration issued a statement saying that a small passenger plane flying from...

      Biden warned Iran to be "careful" and the air raid Syria order was criticized by U.S. lawmakers from both parties.

      Biden warned Iran to be “careful” and the air raid Syria order was criticized by U.S. lawmakers from both parties.

      February 28, 2021
      0

      February 27th - Comprehensive report: On the 25th local time, U.S. President Biden ordered the U.S. military to launch air...

      Next Post
      Iranian and Russian Navy Hold Joint Exercise in North Indian Ocean

      Iranian and Russian Navy Hold Joint Exercise in North Indian Ocean

      Russian Ministry of Foreign Affairs: It is possible to submit an application for registration of the coronavirus vaccine in the United States.

      Russian Ministry of Foreign Affairs: It is possible to submit an application for registration of the coronavirus vaccine in the United States.

      Discussion about this post

      Popular News

        • Trending
        • Comments
        • Latest
        Mossad commander suspected of being shot dead in the Israeli capital

        Mossad commander suspected of being shot dead in the Israeli capital

        December 9, 2020
        A wealthy Mexican businessman was killed by a propeller headshot while walking towards a helicopter that just landed

        A wealthy Mexican businessman was killed by a propeller headshot while walking towards a helicopter that just landed

        December 9, 2020
        About 240 Israelis contracted the novel coronavirus after being vaccinated By Pfizer against Covid-19.

        About 240 Israelis contracted the novel coronavirus after being vaccinated By Pfizer against Covid-19.

        January 2, 2021
        Biden's Asian bodyguard identity exposed: twice "Gint meeting" security

        Biden’s Asian bodyguard identity exposed: twice “Gint meeting” security

        January 21, 2021
        Mink variants of Coronavirus have been found in patients in 7 countries, but only Denmark "kills mink nationwide"

        Mink variants of Coronavirus have been found in patients in 7 countries, but only Denmark “kills mink nationwide”

        0
        Trump attended the APEC online meeting but refused to use the official video background

        Trump attended the APEC online meeting but refused to use the official video background

        0
        Italian health experts: Italy's epidemic is slowing down. We should focus on protecting the elderly and not relaxing.

        Italian health experts: Italy’s epidemic is slowing down. We should focus on protecting the elderly and not relaxing

        0
        Somalia expels Kenya's ambassador to Somalia on suspicion of interfering in internal affairs

        Somalia expels Kenya’s ambassador to Somalia on suspicion of interfering in internal affairs

        0
        The 100-year-old surviving veteran of World War II escaped again and recovered after being hospitalized with the novel coronavirus for 40 days.

        The 100-year-old surviving veteran of World War II escaped again and recovered after being hospitalized with the novel coronavirus for 40 days.

        February 28, 2021
        Tragedy of the pandemic in the United States: an 11-year-old girl returned home and found that her parents died while quarantined.

        Tragedy of the pandemic in the United States: an 11-year-old girl returned home and found that her parents died while quarantined.

        February 28, 2021
        Palestine Coronavirus Worries, Iran Warns Fourth Round of Coronavirus Peak

        Palestine Coronavirus Worries, Iran Warns Fourth Round of Coronavirus Peak

        February 28, 2021
        The U.S. airstrike on Iranian-backed militias in Syria. The Iraqi Ministry of Foreign Affairs responded.

        The U.S. airstrike on Iranian-backed militias in Syria. The Iraqi Ministry of Foreign Affairs responded.

        February 28, 2021
        YCNews

        © 2021 YCNews

        More about us

        • About
        • Advertise
        • Careers
        • Contact

        Follow Us

        No Result
        View All Result
        • Politics
        • World
        • Business
        • Science
        • National
        • Entertainment
        • Gaming
        • Movie
        • Music
        • Sports
        • Fashion
        • Lifestyle
        • Travel
        • Tech
        • Health
        • Food

        © 2021 YCNews

        Welcome Back!

        Login to your account below

        Forgotten Password?

        Create New Account!

        Fill the forms below to register

        All fields are required. Log In

        Retrieve your password

        Please enter your username or email address to reset your password.

        Log In
        Go to mobile version