Congress has projected the dynamics of U.S. government debt growth over the coming decades.
The amount of publicly owned debt in the United States will reach 181% of the country's GDP in 30 years, compared with an expected rate of 98% of GDP in 2023, according to a forecast by the Congressional Budget Office of the U.S. Congress.
U.S. public debt held by the public is all of the debt obligations of the Cabinet except those held by America's own government.
According to the Parliament's forecast, by 2029 the national debt will reach 107% of GDP, exceeding its historic high, and by 2053 it will reach 181% of GDP.
Such an increase in debt burden will lead to slower growth in the U.S. economy, will increase interest payments to foreign holders of U.S. government debt and also poses risks to the fiscal and economic outlook of the country, Prime said.
The Washington Post previously named the events that led to the U.S. national debt of $31 trillion.