Budget deficit to hit record $3.3T due to virus, recession

[In It to Win It]

WASHINGTON (AP) — The federal budget deficit is projected to hit a record $3.3 trillion as huge government expenditures to fight the coronavirus and to prop up the economy have added more than $2 trillion to the federal ledger, the Congressional Budget Office said.

https://www.yahoo.com/finance/news/budget-deficit-hit-record-3-183029237.html

[Alacritous Crier]

1. Due to Trump.

[abqtommy]

3. Damn right!

[Mike 03]

2. First time since 1946 the debt is higher than gross domestic product

US debt will overtake GDP next year for the first time since 1946, CBO says
https://www.cnn.com/2020/09/02/politics/cbo-us-debt-projected-to-overtake-gdp/index.html

[enid602]

4. tax cut

Turns out maybe that huge tax reduction for the uber wealthy and large corporations wasn't such a good idea.

[pansypoo53219]

8. and never ever paid for. but tax cuts are magical.

[coti]

5. With a substantial portion of that money being pumped into the stock market. nt

[SWBTATTReg]

6. and the MORON in chief, in the WH had vowed to pay off the national debt, sure doesn't look that way

now.

[tclambert]

7. And that's why Republicans in Congress are screaming about the deficit.

Oh, wait. Not a peep. It's like they couldn't care less.

[honest.abe]

9. Regardless of whose fault this is we are in for some rough times ahead.

It will be worse than 2008 recession and more like the great depression.