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U.S. Budget Deficit Ends Fiscal Year Short of Previous Year’s Record
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The U.S. budget deficit reached $2.8 trillion in the fiscal year that ended Sept. 30, below the record set the previous year, as government spending tied to the coronavirus pandemic was partly offset by surging revenues.
In reporting the figures Friday, the Treasury Department and Office of Management and Budget said outlays for the fiscal year still rose 4% from the previous year.
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