How large was the U.S. federal budget deficit in the 2020 and 2021 fiscal year? Based on recent forecasts how large is the deficit projected to be in fiscal 2023 fiscal year.Explain how the U.S. Federal government is able to finance these deficits? Explain how the U.S. was able to run enormous budget deficits and still keep interest rates extremely low. Discuss at least three problems that are caused by deficits of this magnitude. Check out the US Debt Clock real-time projections How large is the budget deficit? What is meant by the term public debt? What is the current U S public debt.

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The US federal budget deficit in the 2020 fiscal year was approximately 31 trillion largely due to the economic impact of the COVID19 pandemic In the ... View the full answer