“Coronavirus pushes annual deficit forecasts toward $4 trillion”

“Independent forecasters now expect this year’s budget deficit to nearly quadruple the pre-coronavirus estimate, reaching nearly $4 trillion. That amount of red ink in a single fiscal year would dwarf the deficit peak of $1.4 trillion during the Great Recession and, as a share of the economy, approach levels not seen since World War II.Fed Chairman: The U.S. may be in a recessionVolume 90%

Congress has opened the fiscal spigot three times in the past month, pumping roughly $2.5 trillion into an economy gasping for breath amid a virtual nationwide lockdown. And lawmakers in both parties have promised that more aid will be on the way soon.Volume 0%…”

https://www.rollcall.com/2020/04/13/coronavirus-pushes-annual-deficit-forecasts-toward-4-trillion/