The size of U.S. government debt “will exceed any previous record highs and continue to grow thereafter.”
The Budget Office of the American Parliament has maintained the forecast of the United States national debt growth to a record 166% of GDP by the end of 2054.
According to the Office, the U.S. national debt will increase from 99% of GDP this year to 166% of GDP in 2054. The size of America's debt will exceed any previously established records and will continue to increase, the department said.
At the same time, the report says that in the case of a reduction in private investment or if revenues and expenditures of the state remain at average levels for 30 years, the American national debt may exceed 250% of GDP in 2054.
In early January, the national debt of the United States exceeded the mark of 34 trillion dollars. Over the past year, it increased by more than four trillion dollars.
Earlier, Musk warned of a possible collapse of the dollar because of the U.S. national debt.