U.S. Deficit Shrinks to 2.8% of GDP

The video discusses the budget deficit at the end of September, highlighting a significant improvement in the government's fiscal position over the past five decades. The deficit now stands at 2.8% of GDP, the lowest since 2008, compared to over 10% five years ago. While projections suggest further reductions, there is concern that political fatigue with austerity measures may lead to increased spending.

What significant change in the government's fiscal position is highlighted at the end of September?

• An increase in public spending

• A sharp turnaround in the budget deficit

• A rise in inflation rates

• A decrease in tax revenue

What is the current budget deficit as a percentage of GDP?

• 3.5%

• 5.0%

• 10.0%

• 2.8%

How does the current budget deficit compare to its level five years ago?

• It has doubled

• It is lower now

• It is the same

• It is higher now

What is the expected trend for the budget deficit next year?

• It is expected to remain the same

• It is expected to double

• It is expected to increase

• It is expected to decrease

What concern is growing among politicians regarding the budget deficit?

• The necessity to cut public services

• The requirement to increase taxes

• The potential to cap off spending and increase expenditure

• The need for more austerity measures