Economic Report: U.S. federal budget deficit soars to record$3.1 trillion in 2020

The U.S. government ran a budget deficit of $3.1 trillion in the fiscal year that ended in September in order to pay for the largest fiscal response to an economic crisis since the Great Depression of the 1930s.

The U.S. government ran a budget deficit of $3.1 trillion in the fiscal year that ended in September in order to pay for the largest fiscal response to an economic crisis since the Great Depression of the 1930s.