By Martin Crutsinger
The U.S. budget deficit hit an all-time high of $3 trillion for the first 11 months of this budget year, the Treasury Department said Friday.
The ocean of red ink is a product of the government's massive spending to try to cushion the impact of a coronavirus-fueled recession that has cost millions of jobs.
The deficit from October through August is more than double the previous 11-month record of $1.37 billion set in 2009. At that time the government was spending large sums to get out of the Great Recession triggered by the 2008 financial crisis.
With one month to go in the 2020 budget year, which ends Sept. 30, the deficit could go even higher. The Congressional Budget Office is forecasting the deficit this year will hit a record of $3.3 trillion. However, the government often runs surpluses in September so it is possible the final figure for this year could come in just under $3 trillion.
That would still put the deficit well above last year's imbalance of $984 billion. The previous record deficit for a fiscal year was $1.4 trillion in 2009 in the aftermath of the financial crisis.
White House press secretary Karine Jean-Pierre says the White House has confidence the Secret Service is “going to get to the bottom of this.”
Americans are segregating by their politics at a rapid clip, helping fuel the greatest divide between the states in modern history.
China has restricted exports of high-tech metals gallium and germanium, which are critical to making chips, in response to the U.S. blocking them from access to advanced chips.
A federal judge in Louisiana has restricted the Biden administration from communicating with social media platforms regarding content.
Russia said it's in contact with the U.S. over the imprisonment of journalist Evan Gershkovich.
They spoke to The Associated Press on condition of anonymity because they were not authorized to discuss the investigation publicly.
Former President Donald Trump reportedly pressured former Arizona Gov. Doug Ducey to overturn the state's 2020 election results.
Former President Donald Trump reportedly pressured former Arizona Governor Doug Ducey to overturn the state's 2020 election results.
Former New Jersey Gov. Chris Christie said President Joe Biden and former President Donald Trump are "beyond their sell-by date" in an interview with The New York Times.
Overturning Roe v. Wade and eliminating affirmative action in higher education had been leading goals of the conservative legal movement for decades. In a span of 370 days, a Supreme Court reshaped by three justices nominated by President Donald Trump made both a reality.
