by Peter Schiff, Schiff Gold:

The US government budget deficit in March came in at $119 billion, according to the latest US Treasury Department Report.

That’s a massive budget shortfall. But it’s actually the calm before the storm.

The March 2020 deficit came lower than the $146 billion shortfall in March 2020. But this was primarily a function of the calendar. Significant March outlays were pushed back into February. Overall, the budget deficit through the first half of fiscal 2020 stands at $744 billion, an 8% increase over FY2019.