United States 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.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.
where it was in the aftermath of World War II, when accumulated debt exceeded the size of the economy. Coronavirus: U.S. economy tanked at historic 33% rate in 2nd quarter The $3.3 trillion figure released Wednesday is more than triple the 2019 shortfall and more than double the levels experienced after the market meltdown and Great Recession of 2008-09..