Liabilities held by the public could exceed the country’s annual output as early as next year, according to the Congressional Budget Office US debt held by the public is expected to hit an all-time high within the next ten years, the Congressional Budget Office (CBO) warned in its latest Budget and Economic Outlook, released on Wednesday. According to the CBO, federal public debt amounted to $26.2 trillion at the end of the 2023 fiscal year, accounting for 97% of GDP. That figure is expected to reach 99% this year and exceed the country’s annual economic output in 2025 at 101.7% of GDP. By 2028, public debt is on
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