by jpitney | Sep 3, 2020 | Debt, Economic Policy
From the Congressional Budget Office: Deficits. CBO projects a federal budget deficit of $3.3 trillion in 2020, more than triple the shortfall recorded in 2019. That increase is mostly the result of the economic disruption caused by the 2020 coronavirus pandemic and...
by jpitney | May 14, 2020 | Debt, Economic Policy
Coronavirus is accelerating the already-serious problem of federal debt. James McBride, Andrew Chatzky, and Anshu Siripurapu at the Council on Foreign Relations: The United States’ debt-to-GDP ratio is among the highest in the developed world. Among other major...
by jpitney | May 7, 2020 | Debt, Economic Policy
Former Senator Judd Gregg (R-NH) at The Hill: The deficit for this year is now projected to exceed $4 trillion. This makes the deficit approximately four times larger then any deficit ever wrung up before. The debt we will owe as a nation will exceed our gross...
by jpitney | Apr 25, 2020 | Coronavirus, Debt, Economic Policy, Uncategorized
An April 24 report from CBO: CBO has developed preliminary projections of key economic variables through the end of calendar year 2021, based on information about the economy that was available through yesterday and including the effects of an economic boost from...
by jpitney | Apr 15, 2020 | Coronavirus, Debt, Economic Policy
From the Committee for a Responsible Federal Budget: The United States entered the current public health and economic crisis facing high levels of debt and trillion-dollar deficits. Due to the effects of the crisis and legislation enacted to combat it, debt and...
by jpitney | Feb 11, 2020 | Budget, Debt
Fed Chair Jerome Powell’s testimony before the House Financial Services Committee: The current low interest rate environment also means that it would be important for fiscal policy to help support the economy if it weakens. Putting the federal budget on a...
