Federal deficit soared to $3.1 trillion for fiscal 2020 thanks to pandemic relief spending
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(Worthy News) -The federal government’s deficit for fiscal 2020 was $3.1 trillion, the highest deficit on record, the Treasury reported Friday.
The previous record was set in 2009, during the Great Recession, when the deficit totaled $1.42 trillion.
The deficit for fiscal 2020, which ended on Sept. 30, was far higher than expected at the beginning of the year and much larger than the $984 billion deficit the year before. [ Source: Washington Examiner (Read More…) ]
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