US budget deficit hits all-time high of $864 billion in June
$864 billion. That was the federal budget deficit in June. Triple what it was in June of last year. It's the gap between the 1.1 trillion and spending and the mayor, 241 billion in federal taxes. That month. About half the spending was on the Federal Paycheck protection program, and the monthly revenue is off 28% because the deadline to pay taxes Was moved from April 15th 2 July 15th. But the Congressional Budget Office says the deficit is tracking toward 3.7 trillion for the full fiscal year.