According to Reuters, the June deficit raised the total deficit in the first nine months of the fiscal year to $ 2.7 trillion, far exceeding the previous record deficit. For the full year of $ 1.4 trillion registered in 2009.
Analysts expect the budget deficit for the current fiscal year ending September 30 to reach $ 3.8 trillion.
Spending jumped 223 percent in June to $ 1.1 trillion, a record increase for any month, while revenue fell 28 percent to $ 241 billion, which reflects job losses Caused by the Corona Virus Pandemic and also the extension of the deadline for filing tax returns this year from April to July.
(Amazon fun of knowledge)
