Profile of the Economy

The Administration’s Mid-Session Review for Fiscal Year 2020 was released in July 2019. The Administration projects the federal deficit will rise to $1.05 trillion (4.7 percent of GDP) in FY 2020. From FY 2021 to FY 2025, the deficit would total $4.06 trillion (3.2 percent of GDP, on average). ................
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