U.S. Budget Gap Continued to Widen in 2019

Federal deficit totaled $1.02 trillion over the 12 months that ended in December U.S.

Budget Gap Tripled to Record $3.1 Trillion in Fiscal 2020. A surge of federal spending to

combat the coronavirus and cushion the U.S. economy, coupled with a drop-off in federal

revenues amid widespread shutdowns and layoffs, contributed to the widening deficit.

Pandemic Response Will Drive Up Global Public Debt to a Record, IMF Says. Spending by the

worlds governments to fight the coronavirus and the global economic downturn will propel

public debt to a record level, the International Monetary Fund said, adding that more will be

needed to assure a full recovery. U.S. fiscal debt, a measure of the Govt Fiscal Policy, has

worsened considerably over the last few years and especially since COVID-19. Historically,

economic activity has been slower when debt-to-GDP ratio has surpassed a normal level. What

is the current & projected debt-to-GDP ratio? What will be the projected impact on future

inflation on the financial market and finally on the economy