Jul 13, 2020 - Economy & Business

U.S. budget deficit reached all-time high of $864 billion in June

Illustration: Aïda Amer/Axios

The U.S. budget deficit reached $864 billion in June as Congress allocated trillions to help cushion the damage from the coronavirus recession and massive job losses reduced tax revenues, the Treasury Department said in its latest monthly report.

The big picture: It took 10 months last year for the country's budget deficit to reach roughly the same amount, at $866.8 billion. June's new high is the "biggest monthly budget deficit in history," per AP.

What's happening: Nearly half of the $1.1 trillion in outlays made by the government last month went to small businesses through the Paycheck Protection Program, the Wall Street Journal reports.

  • Real-time economic data has shown investors that business activity across the U.S. is stalling or declining even as states reopen during the coronavirus pandemic.
  • New unemployment applications have fallen steadily since peaking in March, but the number is still historically higher than before the pandemic hit.

Go deeper: Cash can't fix the economy's problems until the coronavirus is curbed

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Rebecca Falconer
Aug 10, 2020 - Health

97,000 children test positive for coronavirus in two weeks

A boy has his temperature checked as he receives a free COVID-19 test in South Los Angeles in July. Photo: Mario Tama/Getty Images

At least 97,000 children tested positive for COVID-19 in the final two weeks of July and there's been an estimated 338,000 cases involving kids in the U.S. since the pandemic began, a new report finds.

Why it matters: The report from the American Academy of Pediatrics and the Children's Hospital Association comes as schools and day cares look to reopen in the U.S.

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Orion Rummler
Updated 14 hours ago - Health

5 states set single-day coronavirus case records last week

Data: Compiled by Axios; Map: Danielle Alberti/Axios

Five states set new highs last week for coronavirus infections recorded in a single day, according to the COVID Tracking Project and state health departments. Only one state — North Dakota — surpassed a record set the previous week.

Why it matters: This is the lowest number of states to see dramatic single-day increases since Axios began tracking weekly highs in June, and marks a continued decrease from late July.

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Orion Rummler
9 hours ago - Health

Georgia governor: It's up to schools to enforce wearing masks

Gov. Brian Kemp at a press conference on Aug. 10. Photo: Elijah Nouvelage/Getty Images

Georgia Gov. Brian Kemp on Monday said the responsibility should be on schools to enforce a mandate on face coverings, the Atlanta-Journal Constitution reports.

Why it matters: Georgia is reporting the fifth-most coronavirus cases in the country, per Johns Hopkins, and the risk of spread in the state is high.

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