U.S. May Deficit Nearly Doubles to $399 Billion
June 10th, 2020Via: Reuters:
The U.S. federal budget deficit in May nearly doubled to $399 billion from a year earlier amid continued strong spending on coronavirus relief programs and a 25% drop in receipts, the Treasury Department said on Wednesday.
The May deficit brought the year-to-date fiscal deficit to $1.88 trillion, already eclipsing the previous full-year record of $1.4 trillion in 2009, with some analysts predicting a gap as high as $3.8 trillion for the fiscal year to Sept. 30.
