In this Aug. 3, 2020, file photo dark clouds and heavy rain sweep over the U.S. Capitol in Washington. (AP Photo/J. Scott Applewhite, File)
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.
President Joe Biden swept into wartime Israel for a 7 1/2-hour visit Wednesday that produced a heaping dose of vocal support and a deal to get limited humanitarian aid into Gaza from Egypt.
The Pentagon has sent “prepare to deploy” orders to about 2,000 U.S. troops to be ready to respond to the Israel-Hamas war, two U.S. officials said on the condition of anonymity to discuss a decision that has not been announced yet.
The head of Israel’s Shin Bet security service has taken responsibility for not warning of the bloody Oct. 7 Hamas rampage that killed over 1,400 Israelis.
Republicans rejected Rep. Jim Jordan for House speaker on a first ballot Tuesday, as an unexpectedly numerous 20 holdouts denied the hard-charging ally of Donald Trump the GOP majority needed to seize the gavel.
The federal judge overseeing the 2020 election subversion case against Donald Trump in Washington imposed a narrow gag order on him on Monday, barring the Republican former president from making statements targeting prosecutors, possible witnesses and the judge's staff.
A 71-year-old Illinois man accused of fatally stabbing a 6-year-old boy and seriously wounding a 32-year-old woman was charged with a hate crime Sunday.
Republicans chose Rep. Jim Jordan as their new nominee for House speaker on Friday during internal voting, putting the gavel within reach of the staunch ally of GOP presidential front-runner Donald Trump.
