A Trillion Here, a Trillion There
If you want another reason beyond Friday’s April jobs report (see nearby) to reopen the economy, look no further than Friday’s Congressional Budget Office report on the federal fisc for April. The combination of collapsing revenues from the economic lockdown and soaring spending to fight the coronavirus produced a deficit of $737 billion for the month, and $1.48 trillion for the first seven months of fiscal 2020.
April is usually a surplus month as tax payments roll in, but the Treasury postponed tax day this year until July…
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