National budget deficit was $738 billion in April, the largest ever

by Laura Mize · May 13th, 2020 11:10 am

The U.S. Department of the Treasury reported an all-time high budget deficit for a single month at $738 billion in April 2020.

That is more than $500 billion larger than the previous record of $235 billion, reported in February 2020. Delaying the income tax deadline from April to July this year, reduced tax revenue due to shuttered businesses and widespread unemployment, and the federal government's $2.3 trillion in coronavirus relief spending all have combined to create the new record monthly high.

"They really are striking numbers that I didn't think I would ever see," a U.S. treasury official said.


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