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.
Four months after a civil trial jury found Donald Trump sexually abused and defamed advice columnist E. Jean Carroll, a federal judge has ruled still more of the ex-president’s comments about her were libelous. The decision means an upcoming second trial will concern only how much more Trump has to pay Carroll.
Sentencing of former Proud Boys national chairman Enrique Tarrio for a plot to attack the U.S. Capitol in a failed bid to stop the transfer of presidential power after Donald Trump lost the 2020 election.
The U.S. government is taking a big step toward forcing a defiant Tennessee company to recall 52 million air bag inflators that could explode, hurl shrapnel and injure or kill people.
The top prosecutors in all 50 states are urging Congress to study how artificial intelligence can be used to exploit children through pornography, and come up with legislation to further guard against it.
