US Budget Deficit Soars To Record Highs. Coronavirus Relief Helps Drive Numbers Up

The United States deficit has soared to a record high following an outpacing in spending by the federal government due to the coronavirus that did not meet the amount taken in from revenue.

BBC News reports that in the first 11 months of the financial year, the federal government spent more than $6 trillion, including $2 trillion on various coronavirus related programs. However, only $3 trillion was taken in from taxes, which means the deficit shortfall is now more than double the previous…

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