Monthly budget statement:
- Last December was a $13.5B deficit
- 2020 fiscal year-to-date deficit $357B vs $319B in 2019
- Outlays $349B vs $326B a year ago
- Receipts $336B vs $313B a year ago
The deficit hawks don't even pretend to care anymore. If rates ever ran higher on deficit concerns, the Fed would monetize the deficit via QE. The song-and-dance isn't going to end for many years but one day it will.
