Sep 3, 2020

The giant federal deficit, approaching WWII levels

The debt looks a lot like it did in 1946. Also, another 880,000 people signed up for jobless benefits. That seems down, yet it is a false comparison. And, KFC is caught between the Trump administration and Chinese tech companies.

Segments From this episode

U.S. debt is hitting historic heights. How much of a problem is that?

by David Brancaccio , Candace Manriquez Wrenn , Erika Soderstrom and Alex Schroeder

Sep 3, 2020

The last time the deficit was this high, as a percentage of the total economy, was 1946.

A national debt counter from mid-June. The U.S. is approaching a position it has not seen since World War II, as the amount of government debt is on pace to exceed the size of the nation's economy.

Olivier Douliery/AFP via Getty Images

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Why it's hard to compare the latest reading on people filing for unemployment

Any way you cut it, the economy is not recovering fast enough, says Diane Swonk, chief economist at Grant Thornton. She breaks down the numbers.

weekly jobless claims
unemployment benefits

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Diners in China use WeChat to order from KFC. With the Trump administration's ban, that's a problem for the fast food company.

The BBC's Robin Brant has more.

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Music from the episode

Change Of Heart El Perro Del Mar

The team

David Brancaccio Host

Victoria Craig Host, BBC

Stephen Ryan Producer, BBC

Jonathan Frewin Producer, BBC

Daniel Shin Producer

Jay Siebold Technical Director

Brian Allison Engineer

Meredith Garretson Producer

Erika Soderstrom Producer/Director

Rose Conlon Producer

Alex Schroeder Producer

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