Morrisons Cove Herald - Putting cows on the front page since 1885.

Other Voices

How Long Can the Federal Debt Keep Rising?

 


By LEE H. HAMILTON

A few months ago, the federal debt we have accumulated over the past decades crossed the $22 trillion mark. That’s a record. And it’s surely not going to be the last.

According to Congressional Budget Office estimates, annual federal deficits over the next decade – the deficit is the annual figure for how much more Congress and the president opt to spend than the government takes in as revenue – are expected to average $1.2 trillion.

Overall, the debt held by the public amounts to about 78 percent of our gross domestic product.

That’s double what it was before...



For access to this article please sign in or subscribe.



 

Reader Comments
(0)

 
 

Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2019

Rendered 07/17/2019 01:05