U.S. Budget Deficit Hits New Record High

The United States registered a record public deficit at $660 billion last month, data by the U.S. Department of the Treasury showed on Monday.

In March, the deficit recorded a new record high on the monthly level after revenues reaching $268 billion and expenditure at $927 billion and both reaching all-time highs.

The deficit hit a record $1.706 trillion in the first half of the current fiscal year.

The increase in expenditure and the subsequent rise in deficit resulted mainly from the increased government stimulus spending.