US Budget Deficit Hits All-Time High of $864 Billion in June
Monday, July 13, 2020 | Tag Cloud Tags: Congress, coronavirus, covid-19, deficit, News, tax, virus, White House, Worthy News | Learn about our FREE SYNDICATION Service | Sign up for our Worthy Briefs! | Printer Friendly
(Worthy News) -The U.S. government, faced with a surge in COVID-19 cases and their economic impact, said it incurred its biggest monthly deficit ever in June, an $864 billion figure that is more than the country usually has recorded annually throughout its history.
The deficit occurred as the White House and Congress authorized trillions of dollars in massive relief programs to combat the coronavirus, even as more than 40 million workers have been laid off and curtailed consumer spending, thus cutting tax revenues.
The June figure topped the previous single month deficit record, $738 billion in April, as the coronavirus began to spread across the country. [ Source: VOA News (Read More…) ]
Latest Worthy News
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.
Tag Cloud Tags: Congress, coronavirus, covid-19, deficit, News, tax, virus, White House, Worthy News