CBO: U.S. DEBT WILL ALMOST EQUAL ECONOMY BY 2028

Will then likely surpass historical high reached in 1946

Published: 11 hours ago

(Washington Post) Government debt is on track to hit historically high levels and, at its current growth rate, will by 2028 be nearly equal in size to the U.S. economy, the Congressional Budget Office said Tuesday.

The debt is projected to grow to 96 percent of GDP by 2028 before eventually surpassing the historical high of 106 percent it reached in 1946.

Currently, the federal government’s debt burden is about $15 trillion, according to Marc Goldwein, senior vice president of the Committee for a Responsible Federal Budget.

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