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.
The presidents of three U.S. colleges and universities are testifying before a House Committee on their handling of anti-Semitic incidents after Hamas' attack in Israel in October.
The Supreme Court on Tuesday dismissed a case surrounding a Maine hotel that could have made it harder for people with disabilities to learn in advance whether a hotel's accommodations meet their needs.
Attorneys for former president Donald Trump missed their chance Monday to pause the gag order against their client in his civil fraud trial in New York.
Federal prosecutors opposed Hunter Biden's request to subpoena documents from former President Trump and other members of his administration.
The U.S. may form a naval task force to escort commercial ships through the Red Sea, days after Houthi rebels struck three vessels with missiles.
Treasury Secretary Janet Yellen is heading to Mexico this week to promote her agency's new strike force to help combat illicit fentanyl trafficking as the U.S. and China step up efforts to stop the movement of the powerful opioid and drug-making materials into the United States.
Sen. Bernie Sanders and the Democratic senators involved say they are firm in their stand that Israel's military must adopt substantive measures to lessen civilian deaths in Gaza as part of receiving the supplemental's $14.3 billion in U.S. aid for Israel's war.
Russian news outlets are reporting that President Vladimir Putin is set to make a rare trip abroad this week.
President Joe Biden is preparing a package of healthcare measures that include cutting prescription drug prices.
The White House is urging Congress to pass President Biden's aid package for Ukraine warning that the U.S. will be out of funding by the end of the year.
