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January 14, 2021

US budget deficit up 60.7% in Q1

WASHINGTON (AP) — The U.S. government's deficit in the first three months of the budget year was a record-breaking $572.9 billion, 60.7% higher than the same period a year ago, as spending to deal with the COVID-19 pandemic pushed outlays up while revenue declined.

The Treasury Department reported Wednesday that with three months gone in the budget year, the deficit was $216.3 billion higher than the same October-December period a year ago.


 
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