News

US posts record $3.1 trillion deficit in 2020 fiscal year

Three trillion deficit, largest ever by a margin

  • Year-ago deficit $984B
  • September deficit $125B vs 124B exp
  • Sept 2019 $83B
  • Outlays $498B vs $291B in 2019
  • Receipts $373B vs $374B in 2019

The thing is, $3.1 trillion hides just how large it is. Much of the PPP money isn’t accounted for until it’s forgiven and there’s other COVID money out there that’s not accounted for yet either. Then there is the coming stimulus package and whatever else comes.

The prior record was in 2011 at $1.3 trillion.

It’s tough to see deficits falling below $1 trillion any time this decade.

For bank trade ideas, check out eFX Plus

Products You May Like

Articles You May Like

Mark Meadows: There are a number of differences in stimulus talks
ForexLive Americas FX news wrap: US retail sales beat estimates
LIVE Forex Trading Analysis – NY Session 16th October 2020 XAUUSD Gold Trading
Heads up: UK finance minister Sunak to announce more support to aid jobs, businesses today
THE 2 BIGGEST SCAMMERS IN THE FOREX MARKET PLUS FREE INDICATOR

Leave a Reply

Your email address will not be published. Required fields are marked *