[Michael R. Strain] Exploding US debt is a problem, not an emergency
Sept 8, 2020
The US Government programs to blunt the economic impact of the coronavirus pandemic will make the federal budget deficit much wider in 2020 than at any point in the last 75 years. The nonpartisan Congressional Budget Office’s new forecasts, released this week, predict that the deficit will be over $3.3 trillion this year, or 16 percent of annual economic output. Measured as a share of GDP, the annual US budget deficit hasn’t hit double digits since 1945. The CBO forecasts that the 20