"The Outlook Is Not Good": Goldman Sees U.S. In Dire Straits As Deficit Hits $2 Trillion In 10 Years

Three months ago, Goldman first among the big banks warnedthat the US fiscal trajectory was dire, warning that "US fiscal policy is on an unusual course" with the budget deficit expected to widen over the next few years, as a result of prior imbalances and recently enacted policies - namely Trump's dramatic fiscal stimulus - which should lead to a federal debt/GDP ratio of around 85% of GDP by 2021.