Photo: Ting Shen/Xinhua via Getty

The federal government reached a record monthly deficit of $737.9 billion in April, the Treasury Department said Tuesday.

The big picture: April is traditionally a month of budget surpluses, with tax filings rolling in, but the coronavirus pandemic instead widened the gap last month. The previous record monthly deficit was $235 billion.

  • The Congressional Budget Office estimates that spending to ward off a recession amid COVID-19's fallout will carry the deficit for the fiscal year to $3.7 trillion.
  • The deficit for this year, which began Oct. 1, has already hit $1.48 trillion.

Go deeper

Rand Paul: Republicans should apologize to Obama for complaining about spending

Sen. Rand Paul (R-Ky.) tore into his fellow Republicans on Fox News Wednesday for considering a coronavirus relief package that could cost more than $1 trillion, calling on them to apologize to President Obama "for complaining that he was spending and borrowing too much" during his time in office.

Why it matters: Paul's comments, while tongue-in-cheek, underscore the divisions within the Senate Republican conference, where as many as 20 GOP senators are likely to vote against any coronavirus relief bill — even if a deal is reached between Democrats and Trump administration.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3 a.m. ET: 19,648,084 — Total deaths: 727,024 — Total recoveries — 11,941,723Map.
  2. U.S.: Total confirmed cases as of 3 a.m. ET: 4,998,105 — Total deaths: 162,425 — Total recoveries: 1,643,118 — Total tests: 61,080,587Map.
  3. Politics: Trump signs 4 executive actions on coronavirus aid — Democrats, and some Republicans, criticize the move
  4. Public health: Fauci says chances are "not great" that COVID-19 vaccine will be 98% effective — 1 in 3 Americans would decline COVID-19 vaccine.
  5. Science: Indoor air is the next coronavirus frontline.
  6. Schools: How back-to-school is playing out in the South as coronavirus rages on — Princeton, Johns Hopkins, Howard to hold fall classes online.
Updated 3 hours ago - World

Brazil coronavirus death toll tops 100,000 and case numbers surpass 3 million

Brazilian President Jair Bolsonaro posted a photo of himself to Facebook congratulating his soccer team, Palmeiras, for winning the state title Saturday, moments after the health ministry confirmed the national COVID-19 death toll had surpassed 100,000.

Why it matters: Brazil is only the second country to confirm more than 100,000 deaths from the coronavirus. On Sunday morning, it became the second country to surpass 3 million cases, per Johns Hopkins. Only the U.S. has reported more. Bolsonaro has yet to address the milestones. He has previously tested positive for COVID-19 three times, but he's downplayed the impact of the virus, which has crippled Brazil's economy.

Editor's note: This article has been updated with the latest coronavirus case numbers and more context.