CBO projects whopping $2.3 trillion budget deficit for fiscal year 2021


us debt worthy christian news

(Worthy News) – The Congressional Budget Office (CBO) is projecting a whopping $2.3 trillion budget deficit in fiscal year 2021, though that deficit would be $900 billion less than the one in 2020.

The $2.3 trillion figure does not factor in the potential passage of a proposed $1.9 trillion coronavirus relief package.

“At 10.3 percent of gross domestic product (GDP), the deficit in 2021 would be the second largest since 1945, exceeded only by the 14.9 percent shortfall recorded last year,” according to the CBO. “Those deficits, which were already projected to be large by historical standards before the onset of the 2020–2021 coronavirus pandemic, have widened significantly as a result of the economic disruption caused by the pandemic and the enactment of legislation in response.” [ Source: Just the News (Read More…) ]

We're being CENSORED ... HELP get the WORD OUT! SHARE!!!

Related News Items:

Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

Worthy Christian News