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US budget deficit climbs to record $2.81 trillion, expected to rise further

The federal government rang up a $63 billion deficit in July, the department reported

Donald Trump. (Bloomberg photo)
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President Donald Trump issued a series of presidential directives last weekend to prolong the extended unemployment benefits at $400 a week, with 25 per cent to be paid for by the states.

AP | PTI Silver Spring (US)
The US budget deficit climbed to $2.81 trillion in the first 10 months of the budget year, exceeding any on record, the Treasury Department said Wednesday.

The nation's budgetary shortfall is expected to eventually reach levels for the fiscal year that ends September 30 more than double the largest annual deficit on record.

The federal government rang up a $63 billion deficit in July, the department reported.

That's a relatively modest amount compared to red ink that spilled in the spring months when the government tried to revive an economy that all but ground to a halt due to the