Pandemic obliges, the American public debt aims at record levels.
In 2021, it will exceed GDP, say the Congressional Budget Services (CBO).
And by 2023, it is expected to reach 107% of GDP, the same level as in World War II.
The gigantic plan put in place to support the economy during the pandemic will also triple the budget deficit.
This is expected to reach $ 3.3 trillion in 2020, warns the CBO.
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The burden could however be less heavy than expected for the next generations.
“
The CBO predicts that we will pay less interest than it imagined before the Covid,
” notes economist Ernie Tedeschi, former Treasury adviser under Obama.
Of course, deficits will rise and the economic outlook is still bleak.
But all of this is "
more than offset by falling interest rates and inflation,
" he explains.
“
The United States is back 80% to 90% of its pre-pandemic economic level.
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