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The Ballooning of the U.S. Budget Deficit

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New Congressional Budget Office (CBO) estimates incorporating the tax cut package expect the federal deficit to soar to $1 Trillion by 2020 (up from $665 billion last year), and for the acceleration in economic growth to prove fleeting. “We’ve just had a great deal of fiscal stimulus on an economy that’s nearly out of slack” – CBO Director Keith Hall.

The Federal deficit is expected to rise from 4% of GDP in 2018 to 5.4% of GDP in 2022, a level not seen (outside of the financial crisis) since the early years of the Reagan Administration.

Source: Bloomberg

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