Tuesday, July 11, 2017
While you were sleeping
The projected deficit just got a lot bigger. I previously speculated that $800 billion was the danger point for the deficit, and it was going to exceed this in 2022. Well that has been bumped up a year, as the deficit in 2021 is now projected to be $879 billion, up from $797 billion previously projected for 2021. Again, this assumes no recession.
Also notice that the deficit is projected to "bottom out" at $565 billion in 2018. Just a few months ago, the 2018 deficit was projected to be $487 billion.
Of course, these numbers will skyrocket when the recession hits in 2018. I think the deficit will exceed $1 trillion in 2019 and then explode from there.
Posted by Nathan Vanderhoofven at 9:51:00 PM