Federal deficit swells to nearly $3 trillion in first 10 months of fiscal year 2020
(Worthy News) – The federal deficit so far this fiscal year is at $2.8 trillion, roughly $2 trillion higher than the deficit for the same period last year, according to the Congressional Budget Office.
To put the figure in context, during the 2007-09 Great Recession, the highest deficit figure was $1.5 trillion, according to the White House.
The CBO, Congress’s official bookkeeper, projected in January, before the pandemic hit the United States, that the deficit for 2020 would be just over $1 trillion. It will now likely be triple that amount as lawmakers debate another coronavirus relief package that could cost anywhere between $1 trillion and $3 trillion. [ Source: Washington Examiner (Read More…) ]
Worthy News reports from a biblical worldview with a commitment to accuracy, transparency, and editorial independence. Learn more about About Worthy News, our Editorial Standards, AI Use Policy, Ownership of Worthy News, News Tips and Corrections, and Worthy News Staff.
💡 Did you know? One of the best ways you can support Worthy News is by simply leaving a comment and sharing this article.
📢 Social media algorithms push content further when there’s more engagement — so every 👍 like, 💬 comment, and 🔄 share helps more people discover the truth. 🙌
Latest Worthy News
Books by George Whitten
Identity in Messiah Revealed https://identityinmessiah.com
A devotional journey calling believers out of self-doubt and into confident, Kingdom-rooted identity in the Messiah.
Get it on Amazon
The Biblical Fall Feasts Revealed https://biblicalfallfeasts.com
An in-depth look at the Biblical fall feasts and their prophetic significance for believers today.
Get it on Amazon