U.S. fiscal issues loom: How larger deficits can hurt the economy
According to the most recent Congressional Budget Office (CBO) projection, the federal budget deficit for fiscal year 2018 (which ends on September 30) will reach $793 billion, or 3.9% of gross domestic product (GDP). This figure is $230 billion more than the CBO had previously estimated in June 2017, largely because legislation enacted since then […]
