CBO projects 38 pct. drop in GDP

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CBO projects 38% drop in GDP, $2.1 trillion increase in the deficit

The Congressional Budget Office projects GDP dropping 38% in the second quarter as 26 million Americans remain unemployed.

The forecast is about in line with most Wall Street projections.

In addition, the CBO sees the federal budget deficit swelling to $2.2 trillion in fiscal 2020.

https://www.cnbc.com/2020/05/19/cbo...2point1-trillion-increase-in-the-deficit.html