The United States government has piled up a record monthly deficit of over 737 billion dollars in April. It is due to drop in revenue and a massive increase in spending to fund efforts to deal with the coronavirus pandemic.
The Treasury Department said yesterday that the government racked up a shortfall of 737.9 billion dollars last month. That was more than three times larger than the previous record monthly deficit of 235 billion dollars set in February.
The Congressional Budget Office has estimated that all the spending, the government has done to deal with the pandemic, will push the deficit for the entire year to 3.7 trillion dollars.
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