The Congressional Budget Office (CBO) released an updated report on Thursday estimating that the US Deficit will hit three trillion dollars in 2021. The CBO indicated that the most significant portion of that deficit consists of the $1.9 trillion COVID-19 relief and stimulus plan that the government passed at the beginning of the year. The good news is that the COVID-19 relief and stimulus measures are only temporary and that as they expire the US deficit will steadily decline.
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