The US’ federal budget deficit is on track to reach an enormous $2.3 trillion in the fiscal year 2021 – the second-highest deficit since World War II – according to a forecast by the Congressional Budget Office.
The projected deficit, which is 25 percent larger than expected, doesn’t account for the 1.9 trillion stimulus bill. Larry Summers, a lead player in Democrat financial policies since the 1990s, said the debt levels, coupled with stimulus spending, could cause an overheated economy with severe inflation.RT’s Boom Bust was joined by Rick Sanchez, host of the News with Rick Sanchez, to debate the deficit issue and …
