The national debt will be nearly twice as large as the U.S. economy in 30 years, the U.S. Congressional Budget Office projects.
That figure assumes no new major spending projects from Congress in that time, which is unlikely, meaning that debt levels could actually rise much more quickly. Conversely, Congress could slow that trend by cutting spending.
“By the end of 2023, federal debt held by the public equals 98 percent of GDP,” the report said. “Debt then rises in relation to GDP: It surpasses its historical high in 2029, when it reaches 107 percent of GDP, and climbs to 181 percent of GDP by 2053.”