The US Congressional Budget Office said the amount of the nation’s public debt held by society will rise to 181% of the nation’s GDP by 2053, compared to what was previously estimated at 98% of GDP in 2023. It has been reported Reuters With reference to the United States Congressional Budget Office estimate.
The forecast says, “By the end of 2023, the federal debt in the hands of society will be 98% of GDP.”
According to the document, debt will then increase relative to GDP, surpassing its historic peak in 2029, when it will reach 107% of GDP, and approach 181% of GDP by 2053.
According to the Congressional Budget Office, this increase in debt burden threatens to slow the economy, increases interest payments to the country’s foreign debt holders, and also poses major risks to the US financial and economic outlook.
Former Candidate of Economic Sciences, finance expert Vladimir Grigoriev declarationThat the US national debt over 30 years could be twice the country’s GDP.