The U.S. Treasury ran a surplus last month, thanks in part to the April 15th tax deadline. But the federal government is still expected to end the year more than $1.5 trillion in the red.
The text accounting for about three-quarters of all federal discretionary spending was released early Thursday. Now, lawmakers are racing against the clock to vote before a Friday midnight deadline.
The government shortfall for the fiscal year that just ended was more than triple that of 2019. The national debt of $21 trillion now exceeds the size of the U.S. economy.