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9/17/20

U.S. budget deficit tops $3 trillion with one month left in fiscal 2020

 The coronavirus pandemic has pushed the U.S. federal budget deficit above $3 trillion for the first 11 months of fiscal 2020, more than doubling the previous full-year record, the U.S. Treasury said on Friday.

The $3.007 trillion year-to-date deficit was nearly triple the $1.067 trillion deficit for the comparable year-ago period, spurred by a massive increase in government spending to battle the economic fallout from the pandemic.

Read more at: 
U.S. budget deficit tops $3 trillion with one month left in fiscal 2020 | Reuters

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