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The United States Won’t Recover by Raising Taxes or Printing Money

The United States Won’t Recover by Raising Taxes or Printing Money
The Treasury Department building in Washington on July 22, 2019. Alastair Pike/AFP via Getty Images
Daniel Lacalle
|Updated:
Commentary
The dramatic economic decline because of the COVID-19 crisis and the unprecedented recovery spending plans approved by President Donald Trump will drive the fiscal 2020 U.S. budget deficit to a record $3.8 trillion, or almost 19 percent of U.S. gross domestic product, according to the Committee for a Responsible Federal Budget.
Daniel Lacalle
Daniel Lacalle
Author
Daniel Lacalle, Ph.D., is chief economist at hedge fund Tressis and author of the bestselling books “Freedom or Equality” (2020), “Escape from the Central Bank Trap” (2017), “The Energy World Is Flat”​ (2015), and “Life in the Financial Markets.”
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