Wednesday , August 12 2020
Home / Constantin Gurdgiev: True Economics / 29/07/20: Federal Deficit in COVID19 Era

29/07/20: Federal Deficit in COVID19 Era

Summary:
Roger, we need a new scale for the chart. Latest data for U.S. Federal deficit through June 2020 is shocking. Here is a visual: June deficit was a whooping 4.07 billion, the largest on record. This bring Trump 1 term cumulative deficits to a staggering .105 trillion, far in excess to .52 trillion average Obama term deficit. Some historical comparatives: The sheer scale of fiscal spending is frightening! No question, this is an emergency situation, but do observe that since 1980 through today, the U.S. has seen not a single decade of balanced fiscal policies. And within the next two months, the U.S. Federal deficit for 2020 alone will be in excess of the combined deficits accumulated in two decades between 1980 and 1999.

Topics:
[email protected] (TrueEconomics) considers the following as important: , , , , , , , ,

This could be interesting, too:

[email protected] (TrueEconomics) writes 11/8/20: COVID19 Update: U.S. vs EU27

[email protected] (TrueEconomics) writes 11/8/20: McKinsey on Changes in Economic Outlook

[email protected] (TrueEconomics) writes 11/8/20: Euromoney Seminar on Longer-Term Trends in Economics

[email protected] (TrueEconomics) writes 4/8/20: COVID19 Update: U.S. vs EU27


Roger, we need a new scale for the chart.

Latest data for U.S. Federal deficit through June 2020 is shocking. Here is a visual:

29/07/20: Federal Deficit in COVID19 Era

June deficit was a whooping $864.07 billion, the largest on record. This bring Trump 1 term cumulative deficits to a staggering $5.105 trillion, far in excess to $3.52 trillion average Obama term deficit.

Some historical comparatives:

29/07/20: Federal Deficit in COVID19 Era

The sheer scale of fiscal spending is frightening! No question, this is an emergency situation, but do observe that since 1980 through today, the U.S. has seen not a single decade of balanced fiscal policies. And within the next two months, the U.S. Federal deficit for 2020 alone will be in excess of the combined deficits accumulated in two decades between 1980 and 1999. 

Leave a Reply

Your email address will not be published. Required fields are marked *