U.S. deficit could reach $3.7 trillion in COVID-19 crisis

U.S. deficit could reach $3.7 trillion in COVID-19 crisis

Congressional forecasters project that U.S. deficit will quadruple to a record $3.7 trillion this year due to nationwide business shutdown and surge in government spending. The CBO forecasts that the U.S. gross domestic product is will to drop by almost 40% on an annualized basis in the second quarter. However, they predict a resurgence later in the year and that unemployment will crest at 16%.

Ben Song
Ben Song
is it 2021 yet?
is it 2021 yet? 4 weeks

How about we reverse those Trump tax cuts to the wealthy? That would recoup some of the deficit. Nahhhh, those poor super rich people might have to sell a few of their extra homes and yachts to manage...the horror!

Seekster
Seekster 4 weeks

You can write 2020 off as a mulligan year. Nobody is going go be seeing a healthy economy at least until late in the year.

Herbie Goes Bananas
Herbie Goes Bananas 4 weeks

How much do we owe China? We can start by writing that off.

Commodore
Commodore 4 weeks

Thanks Obama. I'm sure this is his fault, in some deep state conspiratorial way. Cult-45 will never hold their messiah responsible.

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