The U.S. Treasury Department says the U.S. monthly budget deficit topped $864 billion in June, breaking the record of $738 billion set in April. The federal government is on track to meet or exceed the Congressional Budget Office’s prediction of a $3.7 trillion annual deficit. The U.S. government spent $511 billion on the Paycheck Protection Program in June after re-upping the fund to buffer small businesses during the pandemic. And that was just part of the most expensive fiscal relief package in U.S. history. Meanwhile, a delayed tax deadline and millions of lost jobs slimmed down the government’s revenue.