CBO: Deficit Through April Hits $1.9 Trillion

The federal budget deficit hit $1.9 trillion in the first seven months of the fiscal year, according to estimates released Monday by the Congressional Budget Office (CBO), larger than any full-year deficit before 2020.

That figure is $449 billion, or 23 percent, more than the same period last year, only two months of which were dramatically affected by the COVID-19 pandemic. The increase alone is similar in size to the entire deficit in the same period of the 2019 fiscal year, which came in at $531 billion.

The deficit rose $225 billion last month alone.

Read more at The Hill.

{Matzav.com}