Reported about 6 hours ago
The Congressional Budget Office (CBO) projects that the U.S. national debt will increase by $23.9 trillion over the next ten years, not accounting for additional costs from proposed tax cuts by President-elect Donald Trump. Despite an expected rise in taxable incomes, annual budget deficits could reach 6.1% of GDP by 2035, significantly higher than the historical average. The government's spending, particularly on Social Security and Medicare, is anticipated to continue rising, creating a challenging fiscal outlook for the incoming administration.
Source: YAHOO