(CNBC) The Congressional Budget Office released its own bleak outlook Tuesday for economic growth, unemployment and the federal budget, predicting job gains later this year but an overall climate that will remain subdued through 2021. In its latest projections, the CBO sees GDP capsizing 38% on an annualized basis in the second quarter with the 26 million more unemployed Americans than there were at the end of 2019.
CBO projects 38% drop in GDP, $2.1 trillion increase in the deficit
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