Friday , May 7 2021
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:
Gurdgiev Constantin considers the following as important: , , , , , , , ,

This could be interesting, too:

[email protected] (TrueEconomics) writes 26/4/21: What Low Corporate Insolvencies Figures Aren’t Telling Us

[email protected] (TrueEconomics) writes 23/4/21: There are no ‘social’ winners amidst this pandemic

[email protected] (TrueEconomics) writes 22/4/21: Pew Research on Public Support for Economic Reforms in the US, UK, France and Germany

[email protected] (TrueEconomics) writes 19/4/21: COVID19: BRIICS


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Your email address will not be published.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 *

This site uses Akismet to reduce spam. Learn how your comment data is processed.