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Federal Debt Projected to Surpass 100% of GDP Within Decade, Reach 181% in 30 Years, According to CBO Report

  • The Congressional Budget Office predicts U.S. federal debt held by the public will reach 107% of GDP by 2029 and 181% by 2053 if current laws remain unchanged.
  • Rising debt levels could slow economic growth, increase interest costs, and reduce federal budget flexibility, the CBO warns.
  • The projected debt levels would be the highest in U.S. history, surpassing the World War 2-era record of 106% of GDP.
  • Healthcare, Social Security, and net interest costs are projected to rise substantially as a share of the economy over the next 30 years.
  • The CBO's latest projections show slightly lower debt levels than previous forecasts, due in part to recent deficit reduction legislation, but long-term fiscal challenges remain.
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