Thursday, July 1, 2021 |
Tag Cloud Tags:
CBO,
Congress,
deficit,
Economy,
Federal Reserve,
News,
United States,
Washington,
Worthy News |
Learn about out FREE SYNDICATION
(Worthy News) – The Congressional Budget Office is projecting that the United States’s deficit will balloon to $3 trillion in 2021.
The CBO announced the projections on Thursday afternoon, with the high figure coming close to last year’s record of $3.13 trillion, which was the highest relative to the size of the economy since the 1940s. The deficit is expected to decrease to $1.15 trillion in 2022.
In its updated 10-year budget projection, the nonpartisan office also predicted that U.S. gross domestic product will increase by 7.4% in 2021, a figure that is above the Federal Reserve’s prediction of 7% growth. The CBO said that real GDP will average 2.8% during the five-year period from 2021 to 2025. [ Source: Washington Examiner (Read More…) ]
We're being CENSORED ... HELP get the WORD OUT! SHARE!!!
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.
