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US deficit soars to record $1.7T in six months, fueled by COVID relief spending

Deficit for first half of budget year was up from $743.5B in the year-ago period

By Megan Henney


The U.S. budget deficit ballooned to a record $1.7 trillion in the first half of the fiscal year as a third round of stimulus checks included in President Biden’s coronavirus relief package sent federal spending skyrocketing.

The deficit for the first half of the budget year, from October through March, was up from $743.5 billion in the year-ago period, the Treasury Department said Monday.

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