US ran a $2 trillion deficit last fiscal year — about 6% of GDP.
What's wild: we're doing this while the economy is growing and unemployment is low.
Historically, deficits this large happen during recessions or wars. Running 6% deficits in good times? That's the new normal, apparently.
Makes you wonder what happens when things actually get rough.
What's wild: we're doing this while the economy is growing and unemployment is low.
Historically, deficits this large happen during recessions or wars. Running 6% deficits in good times? That's the new normal, apparently.
Makes you wonder what happens when things actually get rough.