U.S. Budget Deficit Hit $3.1 Trillion Amid Virus Spending Surge

WASHINGTON — The federal budget deficit soared to a record $3.1 trillion in the 2020 fiscal year, official figures showed on Friday, as the coronavirus pandemic fueled a surge in spending and a drop in tax receipts brought by households and businesses struggling with economic shutdowns. The federal government spent $6.55 trillion in 2020, while […]

President Trump supports a bigger relief bill, but a deal is far from certain.

President Trump, struggling to gain traction among voters just weeks before the election, called on Thursday for a bigger stimulus package than he had previously offered, and the White House signaled it was willing to make concessions to Democrats. But the proposals were unlikely to win the necessary backing from Senate Republicans who are preparing […]

President Trump supports a bigger relief bill, but a deal is far from certain.

President Trump, struggling to gain traction among voters just weeks before the election, called on Thursday for a bigger stimulus package than he had previously offered, and the White House signaled it was willing to make concessions to Democrats. But the proposals were unlikely to win the necessary backing from Senate Republicans who are preparing […]