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United States: the American budget deficit explodes in 2020 to more than 3 trillion dollars

2020-10-16T18:16:12.085Z


The United States' budget deficit reached a record level in 2020 to exceed $ 3 trillion, as a result of spending by the federal government in the face of the unprecedented economic crisis caused by Covid-19. Read also: Covid-19: More than 8 million cases recorded in the United States The federal state deficit for the fiscal year 2020 ended in September reached 3.132 billion dollars, against 984


The United States' budget deficit reached a record level in 2020 to exceed $ 3 trillion, as a result of spending by the federal government in the face of the unprecedented economic crisis caused by Covid-19.

Read also: Covid-19: More than 8 million cases recorded in the United States

The federal state deficit for the fiscal year 2020 ended in September reached 3.132 billion dollars, against 984 billion in 2019, according to data released Friday by the US Treasury. The increase in spending, but also the fall in revenue, especially in taxes collected, pushed the budget deficit up by 218% compared to 2019. This is the largest deficit ever recorded by the United States, more than double the previous record, recorded in 2009, when, in the midst of a recession linked to the financial crisis, it had climbed to 1.4 trillion dollars.

Source: lefigaro

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