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Federal Deficit for FY 2020 To Date – $2.8 Trillion or +$1.9 Trillion Year-over-Year
The cumulative federal budget deficit for the first 10 months of fiscal year 2020 reached $2.8 trillion, +$1.9 trillion more than the deficit recorded during the same period last year. Revenues were 1% lower and outlays were 51% higher through July 2020 than during the same 10-month period in fiscal year 2019. Continue reading →