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US budget deficit for current year hits record $2.1 trillion

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WASHINGTON (AP) — The U.S. budget deficit hit a record $2.06 trillion through the first eight months of this budget year as coronavirus relief programs drove spending to all-time highs.

The Treasury Department said Thursday in its monthly budget report that the shortfall this year is 9.7% higher than the $1.88 trillion deficit run up over the same period a year ago.

The report showed that spending from October through May totaled a record $4.67 trillion, up 19.7% from the same period a year ago.

Government tax revenue was up 29.1% to $2.61 trillion, compared to the same period a year ago.

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Associated Press

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