The deficit is expected to reach $3 trillion by the end of the fiscal year.
This is stated in the monthly report of the Ministry of Finance.
The Congressional Budget Office predicts that for the entire budget year, which ends on September 30, the deficit will be $ 3 trillion.
This is slightly lower than the record deficit of $ 3.13 trillion, which was recorded last year.
Last year’s figure more than doubled the previous record of $ 1.4 trillion set in 2009 under the Obama administration, when the government spent heavily on fighting a deep recession after the 2008 financial crisis.