Friday, October 16, 2020

FY2020 Deficit a Whopping $3.1 T!

Note: First wrote $3.1 B, but of course it was $3.1 T. 

The US Government fiscal year ended on September 30th, so the books were finalized for the previous 12 months. One of the more astounding statistics was the budget deficit for the fiscal year: -$3.13 T. 

It's not yet possible to calculate this as a percentage of the 2020 FY GDP, since the GDP for 3Q20 in't in. But it will be high. I suppose most of it is understandly high. But all of it?


William M. Connolley said...

3B would be small. You mean T?

Thomas said...

Traditional British "billion"?

David Appell said...

Yes, thanks William. Fixed.

Entropic man said...

Scientific billion is one thousand million.

We go up in steps of one thousand times.

Kilo, mega, giga, tera, peta

Your deficit is presumably 3.1 teradollars

David Appell said...

Yes, I fixed this. Thanks.