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The Right Coast
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Deficit to reach record $3.3 trillion: CBO | TheHill

By Thomas A. Smith

The federal deficit is expected to reach a record $3.3 trillion this year, more than twice the largest level on record, but lower than earlier estimates, according to new Congressional Budget Office (CBO) projections.

The deficit will amount to 16 percent of gross domestic product (GDP), the largest since 1945.

The explosion in the deficit follows a massive government response to the COVID-19 pandemic and the economic devastation it caused.

via thehill.com