Reported 6 days ago
The Congressional Budget Office (CBO) warns that if Donald Trump's tax cuts are made permanent, US public debt could soar above 200% of GDP by 2047, reaching 250% by 2054. The estimation suggests that such a fiscal scenario, accompanied by increased borrowing costs, would lead to unsustainable levels of debt, already amplified by existing yearly debt servicing costs exceeding $1 trillion. Without tax cuts, the CBO predicts debt would rise to 166% by 2054, still setting records compared to historical levels.
Source: YAHOO