Budget Deficit To Hit Record $3.3T Due To Virus, Recession

September 02, 2020 - 11:30 am

WASHINGTON (AP) — The federal budget deficit is projected to hit a record $3.3 trillion due to COVID-19 costs and the recession, the Congressional Budget Office said Wednesday.

That’s more than triple the 2019 shortfall. The deficit projection was attributed to the coronavirus disruption of the economy and the cost of legislation enacted by Congress in response to the pandemic.

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