Tuesday, August 4, 2020
News

US budget deficit hits record high of $864 billion in June

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

US | July 14, 2020 2:41:50 AM IST
Washington [US], July 14 (Sputnik/ANI): The US federal budget deficit hit a record $864 billion in June amid the coronavirus pandemic, bringing total deficits for the year to an all-time high of $2.7 trillion, the Treasury's monthly statement showed on Monday.

Cumulative outlays for June also hit a record, at $5 billion, according to the statement that typically breaks down the federal administration's commitments without citing factors.

The US economy shrank 5 percent in the first three months of 2020 for its sharpest decline since the financial crisis of 2008/09, as most of the 50 states in the country went into lockdown to stem the outbreak of the COVID-19.

While businesses have largely reopened over the past two months, economists still warn of a double-digit recession for the quarter ended June. (Sputnik/ANI)

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE WORLD NEWS
Welcome news that foreign universities m...
ISIS storming Afghan jail resembles prev...
Mike Pompeo, Taliban deputy chief discus...
House Republicans ask Pompeo for classif...
Beijing cannot be allowed to export its ...
Indian envoy in Afghanistan meets Acting...
More...
 
INDIA WORLD ASIA
Lt Gov sets up special court for trial o...
Chennai man attempts to break Guinness W...
Steady improvement in Karnataka's COVID ...
Tripura CM undergoes COVID-19 test after...
Do not allow IPL in Dubai, CAIT urges Sh...
Former Karnataka CM Siddaramaiah tests p...
More...    
 
 Top Stories
Former Karnataka CM Siddaramaiah te... 
Karnataka: Crime Branch arrests 7 f... 
BMC curtails bus services in Mumbai... 
COVID-19 pandemic "once in a centur... 
UK's Covid count reaches 305,623... 
China reports 36 new coronavirus ca... 
Bombay HC to hear plea seeking tran... 
Senior CPI-M leader Md Salim tested...