In its latest 30-year outlook, the budget office warned that rising debt will pose significant risks to the U.S. economic outlook in the coming years, pushing up interest payments to foreign bondholders and slowing economic growth.
By 2054, the cost of interest payments on the debt will double to 6.3 percent of gross domestic product and spending on social safety net programs will account for more than half of the rest of the nation's outlays.
#federal-debt #congressional-budget-office #economic-growth #interest-payments #long-term-fiscal-challenges
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