The federal government released its much-anticipated preliminary estimate of third quarter real GDP this week. The report arrives at a pivotal time in America: on the eve of a hotly contested presidential election where both candidates are aggressively prosecuting their…
On September 30, the federal government ended fiscal year 2020 with a budget deficit of $3.1 trillion. At an estimated 15.2 percent of gross domestic product (GDP), it was the largest deficit since 1945. On October 7, a fly nestled…
The Concord Coalition said today that new 30-year projections by the Congressional Budget Office (CBO) demonstrate why Congress and the president should ensure that necessary near-term steps to support the economy in the face of the COVID-19 pandemic should not…
The last time the U.S. federal deficit was this high, as a percentage of the total size of the economy, was 1946. The debt-to-GDP ratio was 119%. There’s news that amid the pandemic the amount of government borrowing this year is…
