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CNBC/Jeff Cox/3-22-2020
“In short, the shock from the COVID-19 spread will blow a fiscal hole through Washington, D.C., that could take years if not decades to patch.”
USAGOLD note: Though the virus might fade, the mega-deficits – we take no pleasure in saying – are probably here to stay. In this article, Cox theorizes that we might see a federal deficit yet this year in excess of $1.5 trillion. That would push the aggregate national debt over $25 trillion. The U.S. government has added $17 trillion to the national debt since the turn of the century.
