The coronavirus relief bill passed by Congress last month is estimated to cost about 1.8 trillion dollars, a bit less than the 2.2 trillion dollars first projected by the White House. The Congressional Budget Office says the difference is due to the 454 billion dollars intended to back guaranteed loans by a Federal Reserve emergency lending facility, since the income and costs from that lending are expected to offset each other. Most of the federal deficit created by the relief bills will come in the 2020 budget year, which ends September 30th, and is expected to exceed the previous record of 1.4 trillion dollars from the Obama administration in the aftermath of the Great Recession more than a decade ago.