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.
A Texas judge on Thursday granted a pregnant woman permission to obtain an abortion in an unprecedented challenge to the state’s ban that took effect after Roe v. Wade was overturned last year.
House members voted again Thursday to punish one of their own, targeting Democratic Rep. Jamaal Bowman for triggering a fire alarm in one of the U.S. Capitol office buildings in September when the chamber was in session.
The Senate has failed to advance a bill that would provide aid to Ukraine and Israel.
A Nevada grand jury indicted six Republicans who submitted certificates to Congress falsely declaring Donald Trump as the winner of the 2020 presidential race.
Former President Donald Trump has returned to his New York civil business fraud trial again.
Columnist and political analyst Jonathan Harris provided a full recap of Wednesday night's Republican presidential debate.
The U.S. military has grounded its fleet of Osprey V-22 aircraft a week after a deadly crash off the coast of Japan.
But even as he lashed Republicans for their stance, Biden stressed that he is willing to “make significant compromises on the border,” if that’s what it takes to get the package through Congress.
The four Republican presidential candidates debating Wednesday night mostly targeted each other instead of Donald Trump. Former United Nations Ambassador Nikki Haley took the brunt of the attacks as she gets more interest from donors and voters.
Word about McCarthy's future had been expected the approach of the filing deadline to seek reelection. His departure will leave the already paper-thin House GOP majority even tighter, with just a few seats to spare.
