US federal debt to reach 106% of US economy by 2039, report says

The US debt is expected to rise to 106 per cent of the economy in 2039 from 74 per cent this year, the Congressional Budget Office in Washington has said.

15th July, 2014
The CBO report in April projected that this year’s debt would be 73.8 per cent of US gross domestic product

The US debt is expected to rise to 106 per cent of the economy in 2039 from 74 per cent this year, the Congressional Budget Office in Washington has said.

To put federal finances on a sustainable path, the US Congress must boost revenue, cut spending on benefit programs or combine the approaches, the CBO said in its long-term budget outlook released today.

“The unsustainable nature of the federal tax and spending policies specified in current law presents...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

The year in review

Legacy Richie Oakley 1 year ago

Newsround: What Thursday’s papers say

Legacy Leanna Byrne 5 years ago

More cycle routes, expansion of Luas to Bray and new bus network proposed

Legacy Digital Desk 5 years ago