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New Analysis Projects $4.2 Trillion Budget Deficit This Year

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New Analysis Projects $4.2 Trillion Budget Deficit This Year

April 26, 2020
EconomicsTaxBudget

The federal budget was already on track for a historic $1 trillion deficit this year—and then the coronavirus arrived. A new analysis by Brian Riedl projects that the budget deficit will exceed $4.2 trillion this year, or 19 percent of the economy—the largest share in American history outside of the peak of World War II and double the level during the Great Recession. In a series of striking graphs, Riedl lays out the extent of the economic toll of the coronavirus crisis, highlighting the critical importance of fiscal responsibility when the country emerges on the other side.

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