Fitch Ratings: The fiscal outlook for the United States remains challenging

On June 19th, according to BlockBeats, Fitch Ratings stated that the fiscal outlook for the United States remains challenging in the absence of significant spending reforms. Fitch Ratings stated that according to its baseline forecast, the proportion of the US general government fiscal deficit to GDP will decrease from nearly 8% in 2024 to 7.1% by 2025. However, by 2026, the total government deficit will rise to 7.6% of GDP. Fitch Ratings stated, "We expect the fiscal deficit to remain high in the coming years as we do not anticipate significant additional fiscal policy changes during the remaining term of the Trump administration." The agency also stated that "meaningful mandatory welfare reform is crucial for enhancing the sustainability of mid-term public finances," and added that the Congressional Budget Office expects rising costs of social security and health insurance to increase the deficit by 2% over the next decade. (Golden Ten)