Federal debt to soar despite GOP-led spending standoff, CBO predicts

The U.S. debt is expected to soar to historic levels over the next 30 years, eventually reaching 181 percent of the country’s total economic output.

  • The news comes after Republicans drove a high-stakes standoff this spring to secure what they described as a major improvement in the nation’s fiscal health.

Over the next 30 years, the annual shortfall between what Washington spends on federal programs and collects in tax revenue — the gap is known as the deficit — is expected to fall as a share of the economy by 2027.

  • By 2053 the deficit will reach levels not seen since World War II.

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