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U.S. federal deficit soars to record $3.1 trillion in 2020
The U.S. budget deficit hit a record $3.1 trillion in the 2020 fiscal year, according to data released Friday by the Treasury Department.
Why it matters: The deficit — which measures the gap between what the government spends and what it brings in through taxes and other revenue streams — illustrates the massive impact the coronavirus pandemic has had on the economy.
What we know about the victims of the San Jose mass shooting
Local authorities have identified the nine victims of Wednesday's mass shooting at a transit station in San Jose, California.
The big picture: Many of the victims were longtime employees of the Valley Transportation Authority. "Their jobs included bus and light rail operators, mechanics, linemen and assistant superintendent," reports AP.
In a world of extreme risks, the world needs a chief risk officer
A future that will see escalating danger from extreme risks demands a longer-term approach to handling these threats.
The big picture: The world was caught off guard by COVID-19, and millions of people have paid the price. But the pandemic provides an opportunity to rethink theapproach to the growing threat from low-probability but high-consequence risks — including the ones we may be inadvertently causing ourselves.
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