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U.S. December deficit hits $144 billion, record for the month

The U.S. government posted a December budget deficit of $144 billion – a record for the month – due to far higher outlays with coronavirus relief spending and unemployment benefits, while revenues ticked slightly higher, the Treasury Department said on Wednesday. The Treasury said the December deficit compares with a $13 billion deficit in December 2019, before the COVID-19 pandemic started in the United States. Receipts for the month rose 3% from a year earlier to $346 billion, while outlays were up 40% to $490 billion.

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