US debt to top $54 trillion – budget office ...News

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US debt to top $54 trillion – budget office
source : Russia Today ( News ) () 88
An aging population and higher interest expenses have been pushing the country’s indebtedness higher The US national debt could surge by $19 trillion over the next decade to surpass the $54 trillion mark, owing to the mounting costs of an aging population and higher interest expenses, according to the latest report by the Congressional Budget Office (CBO). The debt exceeded $34 trillion in December. A key factor that will likely lead to a further surge in the national debt is the sharp increase in the federal deficit, according to the CBO, which projects the annual shortfall rising to $2.6 trillion in 2034, up fro

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