The U.S. government, faced with a surge in COVID-19 cases and their economic impact, said it incurred its biggest monthly deficit ever in June, an $864 billion figure that is more than the country usually has recorded annually throughout its history.
The deficit occurred as the White House and Congress authorized trillions of dollars in massive relief programs to combat the coronavirus, even as more than 40 million workers have been laid off and curtailed consumer spending, thus cutting tax revenues.
The June figure topped the previous single month deficit record, $738 billion in April, as the coronavirus began to spread across the country.
Now, even as the government’s ledger sheet shows month after month of red ink, the country is faced with a soaring number of coronavirus infections, more than 60,000 a day on some recent days.
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