요약:New, eye-popping federal budget figures released Thursday show an enormous 3.1 trillion deficit in the just-completed fiscal year.
New, eye-popping federal budget figures released Thursday show an enormous 3.1 trillion deficit in the just-completed fiscal year, a record swelled by coronavirus relief spending that pushed the tally of red ink to three times that of last year.
The massive figures were expected but still stunning, more than double the previous deficit record of 1.4 trillion that was registered during former President Barack Obamas first year in office during the Great Recession in 2009.
Revenues also contributed to the bleak fiscal picture, falling 44 billion to 3.4 trillion, as income tax receipts dropped almost 16% as the jobless rate spiked.
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