Monday, July 13, 2020

U.S. Budget Deficit Explodes in June: 100 Times Greater Than Last June

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The U.S. budget deficit widened to a record-high $864 billion last month, thanks to the rabid dog spending by the Trump administration and Congress.

In June 2019, the budget deficit was just $8 billion.

Federal spending rose to more than $1.1 trillion in June, more than twice what the U.S. government spends in a typical month.

The budget deficit for the first nine months of the fiscal year is now at $2.7 trillion.

Before the COVID-19 spending madness, the previous biggest one-month deficit in the U.S. was $234 billion.


(via WaPo)

1 comment:

  1. And how much of that money went to corporations and friends of the administration compared to how much went out to ordinary people who can't feed the families or pay their rent?