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The US deficit soared to a record $1.7 trillion as the government doled out new stimulus

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The US budget deficit climbed to a record $1.7 trillion last month after stimulus spending in March lifted the shortfall.

The government spent roughly $927 billion as the first half of the fiscal year came to a close, the Treasury Department said Monday. Much of the surge was linked to Democrats’ $1.9 trillion stimulus package, which included $1,400 direct payments and expanded unemployment benefits that reached households in a matter of days.

Tax revenues only amounted to about $268 billion, leading the month’s deficit to reach $660 billion. That compares to a deficit of $119 billion details ⇒

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