USA Deficit Forecast At $4 Trillion... Debt To Surpass 100% Of GDP

[Economy 52,854]

https://www.google.ca/amp/s/www.forbes.com/sites/sarahhansen/2020/04/24/federal-budget-deficit-will-approach-4-trillion-in-2020-cbo-says-as-the-economy-continues-to-nosedive/amp/

 

Covid-19 impacts resulting in reduced tax revenue, increased benefit payouts and bailout programs are causing deficits to surge all over the world with the US being no exception

 

The deficit for 2020 is now forecast to grow to nearly $4 Trillion (over 18% of GDP) and the Federal debt will hit 101% of GDP meaning the Government will owe more than the Entire Nations annual economic output joining much of debt strapped Europe that also has ratios over 100%

 

The last time Countries including the US ran deficits this large relative to their economies was in World War 2.

 

[Economy 52,854]

My Country Canada is expecting a deficit of $200 Billion or 10% of GDP in 2020 and the debt to GDP ratio will rise from 30% to over 40%

 

It's a a decade worth of deficits in one year, usually our deficits are around $20 Billion or 1% of GDP

 

 

[Gabe 2,587]

Money as a concept is so weird lol

[brownie 5]

ECONOMY’S BACK GUYS

Hoo lord did you miss a lot 

[Economy 52,854]

47 minutes ago, brownie said:

ECONOMY’S BACK GUYS

Hoo lord did you miss a lot 

Yeah I heard. Including some scam scandals

[Economy 52,854]

49 minutes ago, Gabe said:

Money as a concept is so weird lol

It kinda is but some form of it has literally existed almost everywhere for ages lol

 

Although, because of modern standard or fiat currencies and being able to print in a way u couldn't in the past, the markets and prices can be distorted in a way in the past it never could

 

I really hope the insane money printing right now doesn't lead to sharp inflation in a year or two when economy begins to re-strengthen