Worthy Christian News > US News > US Budget Deficit Hits All-Time High of $864 Billion in June

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 | Receive Christian headlines and prayer alerts! | 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…) ]

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