The annual U.S. budget deficit rose above $3 trillion for the year ending in June amid plummeting tax revenues due to mass unemployment and shuttered businesses during lockdown periods, The Wall Street Journal reported. The budget deficit widened to $864 billion in June of this year,...
For the Congressional Budget Office (CBO), the glass is half full. The federal agency that provides budget and economic information to Congress predicted as the nation tries to rebound from the worst devastation since World War II, the economy will grow during the third quarter,...
The final financial toll of the coronavirus will likely be a reduction of $7.9 trillion to the U.S. gross domestic product (GDP) until 2030, the Congressional Budget Office said Monday (June 1), according to CNBC. That number includes the rescue funding approved thus far by...
February 01, 2021
A new report predicts the U.S. economy and jobs market will take years to recover from the coronavirus economic crash. However, gross domestic product (GDP) will return to pre-COVID levels, in part due to government stimulus packages, by mid-2021. The bipartisan Congressional Budget Office (CBO) said December’s $900 billion relief bill alone would add about […]
July 13, 2020
The annual U.S. budget deficit rose above $3 trillion for the year ending in June amid plummeting tax revenues due to mass unemployment and shuttered businesses during lockdown periods, The...
July 02, 2020
For the Congressional Budget Office (CBO), the glass is half full. The federal agency that provides budget and economic information to Congress predicted as the nation tries to rebound from...
June 01, 2020
The final financial toll of the coronavirus will likely be a reduction of $7.9 trillion to the U.S. gross domestic product (GDP) until 2030, the Congressional Budget Office said Monday...
