U.S. Budget Gap Tripled to Record $3.1 Trillion in Fiscal 2020

Bloomberg, Oct. 16, 2020–Vince Golle
The U.S. budget shortfall more than tripled to $3.1 trillion in the government’s fiscal year ended in September, swelling the national debt to exceed the economy’s size, after lawmakers opened the spending spigots to soften the blow from the coronavirus pandemic, Treasury Department data showed Friday.