“There were specific villains in the 2008 Financial Crisis take your pick: Lehman Bros, AIG, Countrywide, Goldman Sachs, and so on. ![]() And we endured the 2008 financial crisis much better than many predicted. debt is now about equal to GDP (Gross Domestic Product), like the sound barrier we once thought if we hit it we might explode…this column will try to explain. Government can continue to fund its deficit spending…for the first time U.S. Government can spend so much more than it receives? If so, no need to read further.įor those of us willing to admit that we don’t really understand how the U.S. Here's a quiz question: do you really understand how the U.S. It was also three times as large as the 2019 deficit of $984 billion. ![]() spends and what it earns through tax receipts and other revenue - was $2 trillion more than what the White House’s budget forecast in February. Much of the spending came from the $2.2 trillion economic relief package that Congress passed in March…The deficit - the gap between what the U.S. ![]() From the New York Times on October 16: “The federal budget deficit soared to a record $3.1 trillion in the 2020 fiscal year…The federal government spent $6.55 trillion in 2020, while tax receipts and other revenue trailed at $3.42 trillion.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |