MarketWatch: Federal budget deficit hit record $3.1 trillion in just-ended fiscal 2020, CBO says

MarketWatch: Federal budget deficit hit record $3.1 trillion in just-ended fiscal 2020, CBO says. “The U.S. budget deficit hit a record $3.1 trillion in the recently concluded 2020 budget year, the nonpartisan Congressional Budget Office projected Thursday. ‘Relative to the size of the economy, the deficit—at an estimated 15.2 percent of gross domestic product (GDP)—was the largest since 1945, and 2020 was the fifth consecutive year in which the deficit increased as a percentage of GDP,’ the CBO said in its monthly forecast. ”

Washington Post: U.S. budget deficit breached $3.1 trillion in 2020 as pandemic slammed economy

Washington Post: U.S. budget deficit breached $3.1 trillion in 2020 as pandemic slammed economy. “The U.S. budget deficit eclipsed $3.1 trillion in the fiscal year that ended Sept. 30, according to government data released Friday, by far the biggest one-year gap in U.S. history. The data are a stark reflection of the staggering blow that the coronavirus pandemic has dealt to the U.S. economy.”