Saudi expects wider 2020 budget deficit of $50 billion - finance minister

[ceo_energemsier + 1,818]

Saudi expects wider 2020 budget deficit of $50 billion - finance minister

 

https://www.reuters.com/article/us-saudi-economy-budget/saudi-expects-wider-2020-budget-deficit-of-50-billion-finance-minister-idUSKBN1XA2EO?il=0

[Boat + 1,315]

So let’s put that 50 billion in context. Thanks to Trump tax cuts and a 700 billion military budget the US deficit is close to a trillion and rising. The Saudi are apparently finically consertive in comparison. 

The only time the US ran a budget like this was WWII and when GW and Republicans crashed the world economy and then bailed out the banks. The Dems and Congress chipped in later with the American investment act. Still in response to the crash and massive unemployment. 

Republicans are no longer conservatives and the much touted T-party is a tiny footnote in the annals of history. 

 

Edited November 2, 2019 by Boat