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Budget deficit to hit record $3.3T, putting US debt on track to exceed GDP next year

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The federal budget deficit is projected to hit a record $3.3 trillion as huge government expenditures to fight the coronavirus and to prop up the economy have added more than $2 trillion to the federal ledger, the Congressional Budget Office said Wednesday.The spike in the deficit means that federal debt will exceed annual gross domestic product next year, a milestone that would put the U.S.

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