By MARTIN CRUTSINGER AP Economics Writer WASHINGTON (AP) — The U.S. government's deficit in the first three months of the budget year was a record-breaking $572.9 billion, 60.7% higher than the same period a year ago, as spending to deal with the COVID-19 pandemic surged while revenue declined. The Treasury Department reported Wednesday that three months into the budget year, the deficit was $216.3 billion higher than the same October-December period a year ago. The deficit reflects an 18.3% jump in outlays to $1.38 trillion, a record for the period, while revenues fell 0.4% to $803.37 billion. The red ink […]

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