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.
Watch: https://on.rt.com/b1t0