Red Ink Overflowing: In June, U.S. Borrowed A Typical Year's Worth

With three months left in the government's fiscal year, the U.S. federal deficit is already nearly twice as large as the previous record, which was set in 2009 during the Great Recession.Olivier Douliery/AFP via Getty Images

With three months left in the government's fiscal year, the U.S. federal deficit is already nearly twice as large as the previous record, which was set in 2009 during the Great Recession.The federal deficit ballooned last month as the U.S. government tried to cushion the blow from the coronavirus pandemic. The red ink in June alone totaledThe federal government ran a bigger deficit last month alone than it usually does all year.

tertree8 Can't wait to hear from the Trumpian ballwashers who claim to be 'fiscally conservative'

Good thing Republicans spent the previous 3 years blowing up the deficit on handouts and tax cuts for rich people and corporations!

TheDeepOffice All because of the Democrat-initiated corona-con lockdown of the economy.

And why does this matter ? Do you even know why you are reporting this and/or how affects the real economy?

Dear NPR: It's irresponsible to continue reporting on context-free large deficit numbers....

Stop pushing Neoliberal propaganda. The deficit doesn't matter, and no one should give a shit about it. If there is slack in the economy, like unemployed people & unused resources, a government can continue injecting USD into circulation. Congress spends based on real resources

It’s not the deficit we should be focusing on. For monetary sovereign nation like US, fed gov budget is not like a household. We can not go broke. We should be asking what is the money being spent on and who is it benefiting?

No one cares

Imagine full blown socialism and how long it would take to deplete our resources without capitalism . Let that sink in.

Another *first* for the corrupt and inept and malignant realDonaldTrump and the GOP. Those who are true patriots and love our country will end this sh*tshow on Nov 3 2020.

This kind of framing is deliberate and irresponsible. The budget deficit, at the federal level, should be whatever is needed. Period. What should be focused on is the misuse of recovery monies that did NOT go to the people, and the inadequate response to cover the people.

A true measure of our economy.

And it was so efficiently used... So far we got in return 11% unemployment, a 5-point GDP contraction, 3.5 million COVID cases and 135,000 Americans dead. And it's nowhere near over. Let me know when we stop winning so much.

I remember people screaming about deficits since at least the 1970's. Yet, none of the catastrophes predicted by the deficit 'hawks' has come about. Inflation? Nope. Investors fleeing? Nope. Interest rates rising? Nope. It's almost as if the 'hawks' have it all wrong.

Please interview StephanieKelton on her new book: The Deficit Myth. The Deficit is not a problem per se for country like US that issues its own non convertible free float fiat currency.

DefundTheTeachers

No one cares. Cover some real news

And we aren’t any closer to getting out from under this crisis. This $ did us no good. Just the jokers who gave it to themselves.

I thought the pandemic was an opportunity for experimenting with Modern Monetary Theory

Can you have StephanieKelton on just one time to talk you out of this economic stupidity you keep pushing? Or is this the line your corporate sponsors want you to take?

Why even bother with a budget at all if you aren't going to adhere to one. Oh, how much was budgeted for his golfing trips this year?

This administration is giving away truck loads of Benjamins. But don't worry, that money isn't going to you or me; so it's not socialism, which is bad. The cash is flowing straight up to the 1%, and we never call that socialism; so it's good. Just wanted to clear that up.

Let's bring in all new people so we can stop paying everyone 174k when they are only in season 1/3 of the year

You can blame Trump all you want (and he deserves some blame) But maybe the Goddamn Government should quite spending and Giving away ALL our Taxpayers Money!!! LOVE THE USA! 🇺🇸🇺🇸🇺🇸🇺🇸

Better headline: the Federal Government invested $864 Billion in the economy; no inflation caused; we can do more and give it to regular people instead of the rich.

Where are the fiscal conservatives? Sad both parties are sacrificing our future.

This should been Obama. The GOP woutl have had multiple collective aneurisms.

Obama 2016, Deficit 588 billion for 12 months. Donald “I’ll balance the budget in 4 years”, 864 billion in ONE EFFING MONTH.

Trump’s specialty. Not surprised.

Anyone done the math on what the deficit would be if we hadn’t passed utterly irresponsible tax cuts for wealthiest Americans?

It's like Trump never knew what he was talking about while campaigning or what he is doing since taking office. 🤔

Read StephanieKelton

How much was Trump's 2017 tax cut for rich people & corporations? Something over $5 trillion, wasn't it?

Praise our foolish leader! Tax breaks for the rich, handouts for them as well, Covid 19 infections for the rest!

GOPisGREEDYoldPARTY

realDonaldTrump GOP Promises made, promises kept.

Any time you see fake news or fake stream media - block and roll.

Maybe if our government (GOP and Corporate Dems) didn't give TRILLIONS of dollars to CORPORATIONS and actually used it to help us, we could rebound. But nooooo... we just let them spend OUR money without oversight.

Rome didn't fall in a day. It took decades. It's only taken 3.5 years for The United States to be so weakened we may never recover. That 'great' part, realDonaldTrump, when you gonna jump into that? You only have a few months left.

USA debt crisis has amplified on Trump’s watch. TrumpDeficit

It’s gonna take another Democrat to get us out of another Republican give away to the rich and corporate grifters.

PROPAGANDA MACHINE FAKESTREAM MEDIA GREAT INSTIGATOR FALSIFIER

Your demented 🍑🤡 knows EXACTLY what he needs to do to fix all this... After all he’s done it a number of times. And he’s probably got a buyer lined up as well in 🇷🇺 Businessmen in politics - I think we can stop this experiment now.

Should you ask people to earn their money, FAKE NEWS NPR?

Call in those philanthropist who spend that without a blink of an eye on caos

That is sooo 20th century. Money is now free. Enjoy!

Panicking!!!

Yet pelosi is calling for more give away money to Dem states and slackers! WAKE UP

CorruptGOP are the borrow, steal, and spend party!

Thanks to the GOP

This is going to be SUDDENLY VERY IMPORTANT to all Republicans on Nov 4.

How many trillions went to Wall Street?

Before any Trumpers write this all off to the pandemic, know that the deficit was already huge under Donald BEFORE covid

Trumps tax cuts started the mess.

Do deficits matter?

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