National Debt to Rise to 98% of GDP by 2030

98%

“Sustained federal budget deficits and debt will hit the highest levels since World War II over the next decade, according to a Congressional Budget Office report,” the Wall Street Journal reports. “The government will spend $1 trillion more than it collects in 2020 and deficits will exceed that amount every year for the foreseeable future. As a share of gross domestic product, the deficit will be at least 4.3% every year through 2030. That would be the longest stretch of budget deficits exceeding 4% of GDP over the past century. … Debt held by the public will be 81% of GDP this year and is projected to reach 98% by 2030.”

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