Opinion | The Covid Fiscal Crisis Is About Debt and Taxes

Alas, it’s time to talk about what the coronavirus pandemic means for your tax bill. The good news is that the damage to your wallet or purse might not be as serious as you fear. The bad news is that the broader economic destruction will be a lot worse than you imagine.

Policy makers and voters alike are waking up to the fact that those trillions of dollars and euros and pounds our governments spent were real money. The Congressional Budget Office (CBO) last week pegged the federal budget deficit at $2.7 trillion for the October…

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