Side note: Federal deficit projections are in...and they are breathtaking

Chris94 39173 posts Original UHND Member

Posted 3:24 pm on Sep 2, 2020

The CBO today estimated that the deficit for 2020 will be in the range of $3.3 trillion.

Governments need to spend during crises....but then they need to recover during good times. We did not do this from about 2014 (or earlier, depending on when you think the recession ended) to 2019.

Replies 31

Side note: Federal deficit projections are in...and they are breathtaking Chris94 3:24pm · 9/2/20
- What factored in the Depression was raising the tax rates and the Fed not acting in the right THEISMANCARR 5:48pm · 9/2/20
- Good thing we will never have to pay our debts. You told me that. NedoftheHill 3:28pm · 9/2/20
  - That’s right. But we do have to pay the interest. Chris94 5:08pm · 9/2/20
    - By 2025, U.S. interest payments on the National Debt wiill pass the Defense Budget iairishcheeks 5:51pm · 9/2/20
      - Perhaps that was when the deficit was 2-3% GDP. LehighND 6:38pm · 9/2/20
        
        You mean back when it was still reversible?NT iairishcheeks 7:15pm · 9/2/20
        
        Not sure what you are getting at. LehighND 7:24pm · 9/2/20
        
        Interest on the debt was $230B in 2014, is $375B now and will be $500B in 2025. iairishcheeks 7:36pm · 9/2/20
        
        Doesn't bode well for the greenback. Hard goods. LehighND 10:50pm · 9/2/20
        
        Vinyl records and players will be a luxury item. iairishcheeks 11:07pm · 9/2/20
        
        .NT NedoftheHill 6:55pm · 9/2/20
      - Yep.NT NedoftheHill 6:05pm · 9/2/20
    - Funny to see Dems become fiscally conservative. Welcome aboard. NedoftheHill 5:39pm · 9/2/20
      - Now if we could only get Republicans on board.NT LehighND 5:43pm · 9/2/20
        
        Don't worry, they will get on board if Biden wins. NedoftheHill 6:05pm · 9/2/20
        
        All of the good ones have been cancelled.NT iairishcheeks 6:01pm · 9/2/20

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