U.S. Budget Gap Quintupled in January on Pandemic Aid Spending
Posted on AllSides February 10th, 2021
From The Left
The U.S. federal budget deficit widened in January to about five times the year-earlier level, reflecting spending on pandemic relief payments approved by Congress during the prior month.
The gap increased to $162.8 billion last month, from $32.6 billion in January 2020, according to a Treasury Department report Wednesday. In the first four months of the fiscal year that began in October, the deficit amounted to $735.7 billion -- a record for the period -- compared with $389.2 billion a year earlier, before the coronavirus struck. The report, the first...
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