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US deficit triples in 2020 to highest percentage of GDP since WWII

This story is published in a content partnership with POLITICO. It was originally reported by Kellie Mejdrich on politico.com on September 2, 2020.The US government budget deficit will triple this year to US$3.3 trillion, soaring to the largest percentage of gross domestic product since 1945, the Congressional Budget Office projected on Wednesday.As a result, federal debt held by the public will hit 98 per cent of GDP in fiscal 2020, which ends on September 30, and exceed the size of the…

Read the original article at South China Morning Post

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