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The 2020 US federal deficit is a record $3.1 trillion

The federal government spent $3.1 trillion more than it brought in as revenue in fiscal year 2020, which began October 2019 and ended September 2020. During that time, the government spent a total of $6.5 trillion and brought in a total of $3.4 trillion. The most recent budget surplus was in 2001.

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