US budget deficit to hit 19% of GDP in 2020
|The US budget deficit or the gap between the government's expenses and revenue is expected to widen to a whooping 19% of the gross domestic prodict (GDP) in 2020, according to Jeroen Blokland, Portfolio Manager for the Robeco Multi-Asset funds, Robeco ONE and Robeco Pension Return Portflio.
So far, Washington has announced more than $2.3 trillion worth of fiscal stimulus to help the economy contain the fallout from the coronavirus outbreak. Additionally, the Federal Reserve is running an open-ended asset purchase program and pumping an estimated $4 trillion into the economy, according to The Washington Post.
More importantly, with the virus outbreak showing no signs of slowing down, the government will likely have to do more.
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