In 2020, the federal government is projected to spend $49,000 per household—by far the largest total ever, in nominal terms. Federal spending is projected to rise to nearly 29% of the economy, while revenues are projected to collapse to just 10% of the economy.
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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