U.S. Budget Gap Rose 61% in First Quarter of Fiscal 2021

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The U.S. budget gap widened in the first three months of the fiscal year, rising 61% from a year earlier to a record $573 billion

WASHINGTON—The federal budget gap widened in the first three months of the fiscal year, as government spending continued to outpace revenues while the economy slowly recovers from theThe U.S. Treasury Department said Wednesday the deficit from October through December totaled a record $573 billion, a 61% increase from the same period a year earlier. Federal outlays rose 18%, to $1.

For the 12 months that ended in December, the government ran a $3.3 trillion deficit, more than triple the shortfall a year earlier and roughly 15.8% of U.S. gross domestic product, the broadest measure of economic output.

 

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Well there’s a big surprise

But business doesn’t have to pay taxes

So-called “Fiscally conservative”Republicans achieved the massive debt. The did so without concern. As history well knows, only now with an incoming Dem administration, will it be of any concern to Republicans. They remain immune to Their blatant hypocrisy

What a joke this administration is and has been!

Thanks Trump!

Where’s America’s $2,000 COVID check, and free healthcare, and $15 minimum wage, and a free universal income, just tax Amazon to pay for it

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Almost like when you cut revenue and don't cut spending problems happen.

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