Coronavirus: The US budget deficit sets a new record


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The total US budget deficit exceeded the US GDP in the second quarter

In the United States, the federal budget posted a record deficit of $ 3.1 trillion at the end of the previous fiscal year, according to data released by the Treasury.

The current deficit is double the previous record deficit recorded during the global financial crisis about ten years ago.

It is likely that the wide gap between the income and spending of the federal government in the United States came as a result of the financial rescue package for the economy in the face of the Corona virus, which included spending huge funds to help companies and the unemployed in the face of the deterioration that befell the US economy.

The budget deficit increased by about 218 percent in the fiscal year ending last September, indicating a weak record for the US budget deficit in 2009, which indicated $ 1.4 trillion.


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