The document discusses the persistent high government deficits since the 2008/09 Global Financial Crisis, highlighting a trend that extends back to the post-Bretton Woods era. It examines the US annual budget deficit history, noting that deficits have been consistently high since the early 1970s, with few exceptions. The document also compares the budget deficit trends in other countries like the UK, Spain, Japan, France, and Italy, emphasizing the rarity of budget surpluses in recent decades.
doj/DataSet10/EFTA01384463.pdf
{"title":"Long-Term Asset Return Study: The Next Financial Crisis","document_date":"2017-09-18","document_type":"other","key_locations":["US","UK","Spain","Japan","France","Italy"],"key_organizations":["Deutsche Bank"]}