US: Budget Deficit To Hit Record USD 3.3 Trillion Due To Virus, Recession

Washington (AP) The federal budget deficit is projected to hit a record USD 3.3 trillion as huge government expenditures to fight the coronavirus and to prop up the economy have added more than USD 2 trillion to the federal ledger, the Congressional Budget Office said. The spike in the deficit means that federal debt will exceed annual gross domestic product next year a milestone that would put the US where it was in the aftermath of World War II, when accumulated debt exceeded the size of the economy..

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