The US budget deficit in January reaches a peak of $ 163 billion

The US Treasury Department said on Wednesday, that the government in the United States recorded a budget deficit of $ 163 billion in January, an unprecedented level on a monthly basis and a $ 130 billion jump from the deficit in the same period last year.

A new package of direct payments to individuals.

Revenue rose 3 percent in January from the same period a year ago to $ 385 billion, while spending increased 35 percent to $ 547 billion.

Both revenue and spending recorded unprecedented heights in January.

For the first four months of fiscal year 2021, the deficit rose 89 percent to $ 736 billion, as revenues climbed 1 percent to $ 1.19 trillion and spending jumped 23 percent to $ 1.92 trillion.

Revenues, spending, and the deficit since the start of the year are all at unprecedented heights.