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.
States and Native American tribes will have greater authority to block energy projects such as natural gas pipelines that could pollute rivers and streams under a final rule issued Thursday by the Biden administration.
A federal judge has declared the DACA immigration program illegal but will allow the policy to continue for existing recipients.
A judge in former President Donald Trump's Georgia election case rejected the prosecution's request to try all of the co-defendants together.
Florida Gov. and presidential candidate Ron DeSantis said he does not support criminal penalties for women who get abortions.
Hunter Biden has sued a former Trump White House aide over his alleged role in publishing emails and personal photos online.
A federal judge has declared the DACA immigration program illegal but will allow the policy to continue for existing recipients.
A federal judge has declared illegal a revised version of a federal policy that prevents the deportation of hundreds of thousands of immigrants brought to the U.S. as children.
U.S. Rep. Mary Peltola’s husband has died in an airplane crash, her office said in a statement Wednesday.
A request by Mark Meadows for an emergency stay on a ruling that sent his Georgia election interference case back to state court has been denied.
Top tech leaders are meeting with Senators on Capitol Hill Wednesday about artificial intelligence.
