WASHINGTON (MarketWatch) — The U.S. debt will exceed the size of the nation’s economy in 25 years if the federal government doesn’t chart a “sustainable fiscal course,” the Congressional Budget Office warned in a new estimate on Tuesday.
In its 2012 long-term budget outlook, the nonpartisan CBO said that extending current tax rates and rising health-care costs would push the debt to almost 200% of gross domestic product in 2037. That is under the CBO’s scenario that maintains current policies. Read CBO report.
Read full at Source:
