US Budget Deficit Hits Record $2.1Trln For First 8 Months Of Fiscal Year - Treasury

WASHINGTON (UrduPoint News / Sputnik - 10th June, 2021) The US budget deficit stands at $2.06 trillion in the first eight months of fiscal 2021, after growing by $132 billion in May, the Treasury Department said in its monthly balance sheet reported on Thursday.

Outlays for October to May amounted to $4.67 trillion while receipts totaled $2.61 trillion, resulting in the $2.06 trillion deficit, according to the balance sheet.

The US budget deficit in 2021 is almost on pace with 2020, reaching 66 percent of last year's level of $3.13 trillion within eight months of the financial year.

The current deficit includes a $900 billion COVID-19 bill passed under the Trump administration in November and an additional relief of $1.9 trillion by the Biden administration in March.

According to The Wall Street Journal, the nearly $2.1 trillion budget deficit represents a new record for the first eight months of a fiscal year.