Washington-SANA
The US Treasury Department announced today that the Coronavirus pandemic pushed the US government's budget deficit to more than $ 3 trillion in the first 11 months of fiscal year 2020, more than twice the previous record for an entire year.
Reuters reported that the deficit of $ 3.007 trillion since the beginning of the year is almost three times the deficit of $ 1.067 trillion in the same period a year ago and is caused by a massive increase in government spending to counter the economic repercussions of the Coronavirus pandemic.
The previous record for the 11-month deficit was $ 1.37 trillion, announced by the Treasury in 2009 during the financial crisis and recession, while the total budget deficit for the entire 2009 was $ 1.4 trillion.
