Economists say that the federal government’s response to the coronavirus pandemic can and should at least double the annual deficit by $2 trillion or much higher.
“There’s potential for the deficit to hit 10% of GDP, and I’d say a fairly likely one,” Jared Bernstein told the Washington Examiner.
Bernstein was the chief economic adviser to Vice President Joe Biden from 2009 to 2011 and is now a senior fellow at the Center on Budget and Policy Priorities, a left-of-center think tank.
With the gross domestic product at nearly $22 trillion in 2019, a deficit that size could amount to more than $2 trillion.
Don’t let the MSM censor your news as America becomes Great Again. Over 500,000 Americans receive our daily dose of life, liberty and pursuit of happiness along with Breaking News direct to their inbox—and you can too. Sign up to receive news and views from The 1776Coalition!
We know how important your privacy is and your information is SAFE with us. We’ll never sell
your email address and you can unsubscribe at any time directly from your inbox.