See: https://www.cbo.gov/publication/60419
My last forecast is much more optimistic than this one. They project that Debt Held by the Public will reach 122.4% of GDP by 2034. I am actually very similar in my forecast of Debt Held by the Public. They predict it will be $50.7 trillion in 2034 and I predict it will be $50.4 trillion. The difference is the GDP. I predict the GDP will be $49.4 trillion in 2034 and they predict it will only be $41.4 trillion.
There is some limit to Debt Held by the Public to GDP, but we won't know what it is until we reach it. I think 150% is reasonable, but it could be higher. In any event, the higher the ratio, the more danger we are in.
====================
Update: Also see https://www.crfb.org/papers/trump-and-biden-national-debt
No comments:
Post a Comment