U.S. on Track for Second Biggest Budget Shortfall in History
Posted on AllSides July 13th, 2021
From The Center
The United States is on track for the second biggest budget shortfall in history, the Associated Press reported. The current deficit for the first nine months of this budget year hit $2.24 trillion, just behind 2020's record of $3.1 trillion.
The Treasury Department said Tuesday in its monthly budget report that the deficit for the budget year that ends in September is running a little over 9% below last year's pace.
Previous to the coronavirus pandemic, the record deficit occurred in 2009 of $1.4 trillion as a result of the...
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