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Topline
The Congressional Budget Office predicted Tuesday that federal debt held by the public will grow to a record 107% of gross domestic product by 2029 and soar to 181% by 2053—a debt burden that would far exceed all previously recorded levels.
Key Facts
The projections, which are dependent on current laws remaining generally unchanged over the next 30 years, say that debt held by the public will equate to 98% of GDP by the end of this year, a ratio that will nearly double in the next 30 years.
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