CBO blog: GDP may fall 12% in 2Q

America’s gross domestic product (GDP) is expected to fall 12 percent in the second quarter of 2020 as a result of the coronavirus pandemic, according to an April 24 blog from the Congressional Budget Office (CBO). Twelve percent is equivalent to an annual rate decline of 40 percent for the second quarter, CBO claimed. The federal deficit is also expected to reach $3.7T for FY 2020. Fedderal debt held by the public is projected to be 101 percent of GDP by the end of the year, according to CBO's projections. (Source: Fox Business 04/25/20) https://www.foxbusiness.com/money/us-gdp-12-percent-deficit-3-trillion?utm_source=american-truth_org