Hot Topics :
Pandemic will necessitate a deficit of $2T to $5T, economists say

Pandemic will necessitate a deficit of $2T to $5T, economists say

by Jay Heflin | Washington Examiner  |  Published on March 20, 2020

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.

Subscribe to Freedom and Excellence

Get your daily dose of news & info from Freedom and Excellence

Sign up to Freedom and Excellence for FREE and receive our daily emails.

Popular Topics

  • Here Are The 10 Republicans Who Voted To Impeach Trump
  • Anti-government activist Bundy arrested at Idaho Statehouse
  • John Kasich’s journey from conservative darling to Democratic convention speaker
  • California judges lift coronavirus eviction ban