U.S. deficit could Quadruple to $3.7 Trillion
That amount of debt/deficits cannot be sustained. Already the national debt over 100% of the economy. That hasn't happened since World War II. But unlike then it was paid down for decades. Both parties have ignored the issue for years. Not it could be too late to address it. With a tanking economy there is not enough revenue to pay for our bills. America depends on foreigners to pay for our wasteful programs. That could be coming to an end very soon with a world economy struggling:
A nationwide business shutdown and surge in U.S. government spending will nearly quadruple the federal deficit to a record $3.7 trillion this fiscal year as the country combats the coronavirus pandemic, congressional forecasters said on Friday. U.S. gross domestic product will plunge by nearly 40% on an annualized basis in the second quarter, according to the nonpartisan Congressional Budget Office. But the CBO forecast an economic resurgence in the second half of the year, and said unemployment would crest at 16% but remain in double digits throughout 2021.