"Those who have been following the record surge in US public debt (excluding the roughly $100 trillion in off-balance sheet obligations), which exploded by $3 trillion in the three months following the covid shutdowns and which just hit an all time high $27.1 trillion this week, will be all too aware that the US budget deficit this year - and every year after - will be staggering.
Sure enough, in the latest just released deficit report, the Treasury announced that in September the US burned through another $124.6BN, which while modestly better than the $200.1 billion deficit reported in August, was a whopping 50% more than the $82.8 billion deficit last September.
Specifically according to the Treasury, in August, government outlays were $497.8 billion, up $74 billion from the $423.3 billion spent in August, and a whopping 71% more than the $291 billion the US spent last September...
... while receipts rebounded from the $223.2 billion received in August to $373.2 billion, and effectively identical to the $374 billion collected last September (the question of why anyone still pays taxes in a time of helicopter money, when the Fed simply purchases whatever debt the Treasury issues, remains)..."
at https://www.zerohedge.com/markets/budget-deficit-hits-record-21-trillion-fiscal-2020-us-spends-90-more-it-collects
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