The Congressional Budget Office (CBO) has estimated that the federal budget deficit for the first seven months of fiscal year 2021 reached $1.9 trillion, $449 billion more than the deficit recorded during the same period in fiscal year 2020. The CBO said that even though there was an upsurge in revenue, the deficit continues to skyrocket. According to the CBO, outlays were up by 22% and revenues were 16% higher compared to last year. Spending for economic impact payments was partially responsible for the jump in outlays. Total receipts for the seven-month period amounted to an estimated $2.14 trillion, $297 billion more than in 2020. Read the CBO monthly review:  Call or visit our website for more information!