U.S. budget deficit triples to record $3 tril. amid pandemic

The U.S. budget deficit has more than tripled to a record-high $3.13 trillion in fiscal 2020 from the previous year due to massive spending to support businesses and households struggling from the economic fallout of the coronavirus pandemic, the Treasury Department said Friday.The deficit during the year that ended Sept. 30 widened for the fifth consecutive year and stood at more than twice the size of the previous record-high deficit marked in fiscal 2009 amid the global financial crisis.According to the department, the budget shortfall was $2.0 trillion higher than an early estimate in Febr…

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