Chinanews.com, April 13th. According to a report by the American Chinese website, on the 12th local time, the U.S. Treasury Department stated that the federal government’s fiscal deficit in March was as high as $660 billion, making it the third largest monthly deficit on record.
In March, U.S. President Biden's 1.9 trillion dollar rescue plan was passed, distributing relief funds to eligible American families.
According to a report from the Ministry of Finance, in the first six months of fiscal 2021, from October 2020 to the end of March 2021, the fiscal deficit has soared to a record high of $1.706 trillion.
The deficit in the same period of the previous year was 743 billion US dollars. At that time, the US economy had not been significantly affected by the new crown epidemic. After the lockdown was imposed due to the outbreak in March 2020, the US government began to invest a large amount of economic assistance.
The report points out that the March 2021 deficit is the third highest monthly deficit on record in the United States, second only to USD 864 billion in June 2020 and USD 738 billion in April 2020.
On April 9, local time, the Coney Island Amusement Park in New York, USA reopened, and people lined up to enter the park.
On the same day, the Coney Island Amusement Park, which has a history of over a hundred years, reopened after being closed for one year due to the new crown epidemic.
Photo by China News Agency reporter Liao Pan
Treasury officials said that as a result of the $1.9 trillion bailout bill passed in March, which directly distributed $1,400 to most Americans, spending in March increased by $339 billion.
The official added that more funds in the US$1.9 trillion rescue plan will be gradually released in the next few months, which may further increase fiscal expenditures.
The Ministry of Finance said that in the first six months of fiscal 2021, fiscal expenditures reached a record US$3.410 trillion, while revenue was US$1.704 trillion.
Treasury officials said that the total amount of direct disbursements during the six-month period reached US$487 billion, including two rounds of bailout payments issued by the Trump administration.