While some may continue to argue about how the United States reached this point, the Congressional Budget Office explains that the budget deficit is about $360 billion less than the deficit at the end of 2020.
While many economists are unsure of when the economy will recover from the COVID-19 pandemic, the latest information from the Bureau of Economic Analysis gives hope that the answer is, soon.
According to a new study from the U.S. Government Accountability Office, the government’s public debt will reach 107 percent of gross domestic product by the end of 2023, its highest point in history.
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