CBO Warns U.S. Debt to Reach $56 Trillion by 2034

Rising interest costs and mandatory spending drive deficits to unprecedented levels, sparking concerns over economic stability.

The Congressional Budget Office projects the U.S. national debt will surge to $56 trillion by 2034.
Federal budget deficits are expected to remain above 5.5% of GDP annually for the next decade.
Interest payments on the national debt will soon surpass defense spending, becoming the largest federal expenditure.
Recent legislation and mandatory spending on Social Security and Medicare are significant contributors to the growing debt.
Economists warn that unchecked federal spending could lead to severe economic consequences, including higher interest rates and inflation.