US Government Accountability Office: National debt could reach 200 percent of GDP by 2050
The American national debt, if current rates of income and spending are maintained, will grow faster than the country's economy, and by 2050 will reach 200 percent of national GDP. Writes about this RIA News with reference to the forecast of the American Accounting Chamber.
As the department clarified, the US government faces an unsustainable financial trajectory in the long term. According to experts, it creates serious problems for the economy, security and social sphere.
“Our review of the country’s financial condition showed that debt will grow faster than the economy, reaching 200 percent of GDP by 2050, if income and spending policies remain unchanged,” the experts emphasized. Congress and the administration are expected to have to make difficult budgetary and policy decisions.
Previously, calculations by the Congressional Budget Office showed that the US national debt would rise by the end of 2034 to a record 116 percent of GDP.
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