08 Jul 2020 Counting the Cost of COVID Part IV: Forecasting our Financial Future
In the last two blog posts on the financial effects of COVID, I compared the current deficit to past deficits and critiqued government spending in response to government-mandated lockdown. Now it is time to anticipate the future financial impacts of COVID. Will this recent spending bankrupt our country? The short answer is… no. At least, not yet.Will this recent spending bankrupt our country? The short answer is… no. At least, not yet. This year’s federal deficit is currently projected to be $343 billion or 15.9% of GDP, although that number will likely grow...