The U.S. budget deficit totaled $2.772 trillion during fiscal 2021, below the prior year’s record shortfall but still reflecting a second straight year of massive spending to support households and businesses through the coronavirus pandemic, the Treasury Department said on Friday. The United States posted a deficit of $3.132 trillion in fiscal 2020, when the federal government first started spending frantically in response to the pandemic. The $360 billion drop in the deficit—the first decrease in six years—reflected the rebound in economic activity this year. “Today’s joint budget statement is further evidence that America’s economy is in the midst of a recovery,” Treasury Secretary Janet Yellen said in a statement issued with the acting head of the Office of Management and Budget, Shalanda Young. The U.S. economy is on track to grow by as much as 6 percent this year in a rebound spurred by the emergency measures enacted under …
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