Budget deficit to hit record $3.3T due to virus, recession
Federal budget deficit is projected hit to hit a record $3.3 trillion due to covert 19 cost and the recession. That's more than triple the 2019 shortfall. The deficit projection was attributed to the corona virus, disruption of the economy and the cost of legislation enacted by Congress. In response to the pandemic. The Congressional Budget Office issued the report today. The enormous deficit Is bringing the federal debt as measured by the size of the economy near levels not experienced since the end of World War two.