The Staggering Cost of the Pandemic Goes Beyond Economic Relief Bills

Posted on AllSides May 5th, 2020
From The Right

The coronavirus pandemic and economic shutdown have induced Congress to spend whatever it takes to fund the health system and keep the economy afloat. Now we are starting to see just how overwhelming those costs are going to be.

My models estimate that the 2020 federal budget deficit—just the deficit—will top $4.2 trillion. To put that figure in context, last year the entire federal budget totaled $4.4 trillion, which left us with a deficit of $984 billion.

Entering 2020—and before coronavirus—the baseline budget deficit was $1 trillion. The CBO projects...

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