The US’s final budget results for fiscal year (FY) 2020 were released on 16 October 2020.
The results show that the US’s deficit for FY 2020 was $3.1 trillion; $2.1 trillion higher than the prior year’s deficit. The FY 2020 deficit was $2.0 trillion higher than the estimate of $1.1 trillion in the FY 2021 Budget published in February.
The results reflect the effect of COVID-19 on the economy, according to the U.S. Treasury and White House Office of Management and Budget media release.
Read the full media release and details of receipts and expenditure.