US federal budget deficit projected to hit record USD 3.3 trillion

The United State's federal budget deficit is projected to hit a record USD 3.3 trillion as huge government expenditure to fight the coronavirus and to prop up the economy have added more than USD 2 trillion to the federal ledger, the Congressional Budget Office said.   The spike in the deficit means that federal debt will exceed annual gross domestic product next year - a milestone that would put the US where it was in the aftermath of World War II, when accumulated debt exceeded the si...