US budget deficit hits $2.77 trillion in 2021, 2nd highest

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The deficit total two point seven seven trillion dollars for twenty twenty one that actually represents an improvement over the twenty twenty fiscal year when it hit the all time high of three point one three trillion both years numbers reflect trillions of dollars in government spending to counteract the devastating impact of the corona virus pandemic the Biden administration says the economic recovery boosted revenues in twenty twenty one the counting for the three hundred and sixty billion dollar decline in the deficit prior to the pandemic the government's biggest deficit had been one point four trillion in two thousand nine when the government spent heavily to lift the country out of recession brought on by the two thousand eight financial crisis the nonpartisan Congressional Budget Office expects the deficit will fall to one point one five trillion in the current budget year which began October first Ben Thomas Washington

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