Reported 12 days ago
The Congressional Budget Office (CBO) has projected that the US government will exceed the debt levels recorded after World War II by 2029, with total debt reaching 107% of GDP. Although the CBO revised its deficit forecast downward to $1.87 trillion for this year, driven by stronger economic growth, the overall fiscal outlook remains dire. Rising expenses associated with Social Security and Medicare, coupled with increasing interest payments, contribute to an unsustainable debt trajectory that poses challenges for both political parties.
Source: YAHOO