US budget deficit hits record $1.9 trillion so far this year

FILE - In this May 7, 2021 file photo, Treasury Secretary Janet Yellen speaks during a press briefing at the White House in Washington. The U.S. budget deficit surged to a record of $1.9 trillion for the first seven months of this budget year, bloated by the billions of dollars being spent in coronavirus relief packages. In its monthly budget report, the Treasury Department said Wednesday, May 12 that the shortfall so far this year is 30.3% higher than the $1.48 trillion deficit run up over the same period a year ago.(AP Photo/Patrick Semansky)