US debt projected to reach 116% of GDP by 2034
Edited By WION Video Desk
Published: Apr 03, 2024, 05:10 IST | Updated: Apr 03, 2024, 05:10 IST
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The US Congressional Budget Office (CBO) released its latest projections on the federal government's debt, painting a concerning picture. The report estimates that debt will surge to 116% of GDP by 2034, exceeding levels even seen during world war ii. This alarming trajectory is fuelled by a combination of factors, including rising interest rates and ongoing spending pressures.
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