Reuters MIKE SEGAR
The US Treasury Department announced that the federal government budget deficit amounted to $ 311 billion in February, marking a record peak for the month as expenditures against the Corona pandemic continue to grow.
February revenue increased 32 percent year-on-year to $ 248 billion, while spending rose by the same to $ 559 billion, due to unemployment benefits and health spending.
In the first five months of fiscal year 2021, the deficit rose 68 percent to a record high of $ 1.047 trillion, surpassing the previous peak of $ 652 billion recorded in the October-February period of the 2010 fiscal year.
Source: “Reuters”
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