US national debt projected to reach $50 trillion by 2034 without reform, according to CBO.

The US national debt is on track to reach record levels without reform, according to the Congressional Budget Office (CBO). Budget deficits are projected to widen from $1.9 trillion this year to $2 trillion annually from 2030. The debt held by the public will rise from over $28 trillion this year to over $50 trillion in 2034. If not addressed, this situation could lead to a potential debt crisis.

July 07, 2024
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