Cryptocurrencies: 5,975
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Global market data

Cryptocurrencies: 5,975
Markets: 545
Marketcap: $ 554.72 B
24h Vol: $ 101.34 B
BTC Dominance: 61.24%

[ZEROHEDGE] US Starts Off Fiscal 2021 With Largest October Budget Deficit On Record

Zero Hedge

US Starts Off Fiscal 2021 With Largest October Budget Deficit On Record

Tyler Durden

Thu, 11/12/2020 – 14:44

One month after the Treasury announced that the US ended fiscal 2020 with a staggering, record $3.1 trillion budget deficit, more than triple the prior year’s $954 billion, as a result outlays of $6.552 trillion, almost double the receipts of $3.420 trillion, moments ago we learned that the US started off fiscal 2021 in style, and in the month of October the budget deficit was a whopping $284 billion, $10 billion more than the expected $274.5 billion, and more than double last year’s October deficit of $134.5 billion. This was also the biggest October deficit in history.

Specifically according to the Treasury, in August, government outlays were $521.8 billion, up $24 billion from the $497.8 billion spent in September, and a whopping 37% more than the $380 billion the US spent last October…

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