CBO Warns of Worsening Federal Deficits and Rising National Debt Over Next Decade
The Congressional Budget Office (CBO) projects worsening federal deficits and rising debt over the next decade due to increased spending, particularly on Social Security, Medicare, and other entitlement programs.
The Congressional Budget Office's 10-year outlook predicts worsening long-term federal deficits and rising debt over the next decade, primarily due to increased spending, particularly on social security and healthcare programs. The budget office warns that the national debt could reach $30 trillion by 2035 if current trends continue. The growing deficits are expected to worsen over time, with the debt-to-GDP ratio projected to increase from 120% in 2023 to 215% by 2050. This trend has significant implications for the country's long-term fiscal sustainability and potential economic consequences.
