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Jun 23, 2011

Congressional Budget Office show debt rising to 190% of GDP

New figures released Wednesday by the Congressional Budget Office show debt rising to 190 percent of GDP by 2035. The annual long-term budget outlook forecasts a surge in public debt this year that will rise to 70 percent of GDP by the end of fiscal year 2011 compared to 62 percent by the end of 2010. The CBO offers two forecasts, both of which show the nation's finances deteriorating over the next quarter century.  CBO - Report here (PDF)
Also see the following documents have been added to CBO's Web site: