Budget Deficit to Hit a Record $3.3 Trillion. Posted on 9/3/2020 at 18:16:44 by Bill Crawford, (14)
According to the below-linked article in today's paper, the federal budget deficit will hit a record $3.3 trillion this year.
As indicated in the article, this will lead to an overall government debt which exceeds the gross national product.
The article goes on to say that the only other time that the overall debt has exceeded the gross national product was at the end of WWII in 1945.
The article points out that the $3.3 trillion deficit is being caused by the Coronavirus.
