05-22-2018, 09:13 AM
After an economic expansion this long, the US should run a surplus, not a 4.1% public sector deficit..
Jan Hatzius, chief economist at Goldman Sachs, sees the deficit ballooning to $2.05 trillion (7 percent of GDP) by 2028. "Lawmakers might hesitate to approve fiscal stimulus in the next downturn in light of the already substantial budget deficit," the economist said. The Congressional Budget Office projects that debt could equal GDP within a decade, a level not seen since World War II.
Goldman Sachs: The fiscal outlook for the US 'is not good'