US budget deficit surges to $3.1 trillion in fiscal 2020
The budget deficit in the United States hit another record. The indicator breaks to new highs on a regular basis. However, in the light of a raging pandemic, the figures reached unprecedented levels. On top of that, the country’s negative trade balance is growing faster than expected.In the fiscal year that ended on September 31, the federal budget deficit tripled, hitting an all-time high of $3.