Jan Hatzius, chief economist at Goldman Sachs, sees the deficit ballooning to $2.05 trillion (7 percent of GDP) by 2028.
The fiscal outlook for the United States "is not good," according to Goldman Sachs, and could pose a threat to the country's economic security during the next recession.
According to forecasts from the bank's chief economist, the federal deficit will increase from $825 billion (or 4.1 percent of gross domestic product) to $1.25 trillion (5.5 percent of GDP) by 2021. And by 2028, the bank expects the number to balloon to $2.05 trillion (7 percent of GDP)...
Source:cnbc.com