America's Structural Deficit Will Persist Long-After Coronavirus Disappears
There is no end in sight for the mounting debt. Even if the economy recovers quickly after reopening, the projected budget deficit will still approach $2.2 trillion next year and never again fall below $1.3 trillion. Combined with the mounting costs of Social Security and Medicare, the deficit will rise to $2.6 trillion by 2030 and continuing growing thereafter.
Brian Riedl is a senior fellow at the Manhattan Institute. He is the author of the new report, "Coronavirus Budget Projections: Escalating Deficits and Debt." Follow him on Twitter @Brian_Riedl.
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