2009 Deficit to $2 Trillion, 12.5% of GDP
This chart from the International Political Economy blog was a September 2008 estimate of the likely government deficit in 2009. But estimates keep rising. According to Morgan Stanley's chief economist, 'The 2009 budget deficit could be close to $2 trillion, or 12.5 percent of gross domestic product, more than twice the record of 6 percent set in 1983." Anyone for $3 trillion? Do I hear $3 trillion?