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%.
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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
4 weeks
How much do we owe China? We can start by writing that off.
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.
Top in U.S.
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!