Poket News

US federal budget deficit projected to hit record USD 3.3 trillion

 

  • The United State's federal budget deficit is projected to hit a record USD 3.3 trillion as huge govt expenditure to fight the coronavirus and to prop up the economy have added more than USD 2 trillion to the federal ledger, the Congressional Budget Office said.
  • The USD 3.3 trillion figure is more than triple the 2019 shortfall and more than double the levels experienced after the market meltdown and Great Recession of 2008-09.