Tuesday, December 20, 2022

US national debt on pace to be 225% of GDP by 2050

 https://www.foxbusiness.com/economy/us-national-debt-pace-gdp-2050-penn-wharton-says

The findings from the Penn Wharton Budget Model, a nonpartisan group at the University of Pennsylvania's Wharton School, found that under current law, the national debt will rise to 225% of U.S. GDP by 2050. 

"Current U.S. fiscal policy is in permanent imbalance as current debt plus projected future spending outstrips future tax revenue," the analysis said. "Achieving fiscal balance would require the federal government to permanently increase tax revenues by over 40% or reduce expenditures by 30% or some combination of both."

Here is the link to the study: https://budgetmodel.wharton.upenn.edu/issues/2022/12/19/long-term-implications-of-current-budget-policies


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