Insurance
CRFB: the U.S. budget deficit will quadruple to a record $3.8 trillion in 2020

The committee for a responsible federal budget (CRFB) estimates that a sharp recession and huge epidemic costs will nearly quadruple the us budget deficit in fiscal 2020 to a record $3.8 trillion, or 18.7% of us economic output. Before the outbreak, the congressional budget office had projected a deficit of $1.07tn in 2020. On top of that, the CRFB forecast adds about $2.2 trillion in additional government spending and $570 billion in revenue due to a "pause" in economic activity. "These projections almost certainly understate the deficit because they are based on the fact that no

Read more ...
Investing
Leasing
Loans
ADVERTISEMENT