Federal deficit tripled to $3.1 trillion in fiscal year 2020, largest as share of the economy since World War II
The federal deficit for fiscal year 2020 was $3.1 trillion, triple last year’s figure, the Congressional Budget Office estimated Thursday.
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Trump plan could cut taxes by $1.7 trillion, Biden’s could offer $4.3 trillion increase, report
The nonpartisan Committee for a Responsible Federal Budget released a report Wednesday estimating that Democratic presidential candidate Joe Biden’s proposed policy measures would raise taxes by about $4.3 trillion over the next decade.
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US trade deficit hits 14-year high, rises to $67.1 billion in August
The US trade deficit rose in August to the highest level in 14 years.
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Federal debt held by the public to exceed GDP by next year: CBO
The coronavirus pandemic and federal efforts to provide relief will significantly add to the federal debt in the years ahead, the Congressional Budget Office projected Monday.
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Deficit swelled to record of over $3 trillion 11 months into fiscal year
The federal budget deficit swelled to a record of more than $3 trillion with one month left in the current fiscal year, the Treasury Department announced Friday.
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U.S. trade deficit surged in July to highest in 12 years
The U.S. trade deficit surged in July to $63.6 billion, the highest level in 12 years, as imports jumped by a record amount.
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