Think Deficits Are Bad Now? You Ain’t Seen Nothin’ Yet | US Issues

Comment by tonytran2015: (Reading a sovereign budget, posted on 2020 July 3rd.).

https://us-issues.com/2020/07/19/think-deficits-are-bad-now-you-aint-seen-nothin-yet/

The U.S. government was on track for a $1 trillion deficit this fiscal year, even before coronavirus. That’s the kind of budget deficits one would expect to see during a major economic downturn. The federal government has only run deficits over $1 trillion in four fiscal years, all during the Great Recession. The U.S. was on that path before the recent coronavirus economic upheaval even while Trump called “the greatest economy in the history of America.”

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