National debt nears $31 trillion as Congress considers new spending bill

National debt nears $31 trillion as Congress considers new spending bill

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The national debt is nearing $31 trillion with the Democrat-led Congress newly back in session to debate a spending bill to keep the federal government funded past Sept. 30. The Congressional Budget Office has estimated that the debt will reach 110% of GDP in 2032 — higher than it has ever been — and 185% of GDP in 2052.
"Moreover, if lawmakers amended current laws to maintain certain policies now in place, even larger increases in debt would ensue," read the Budget and Economic Outlook: 2022 to 2032.
"Debt is projected to rise in relation to GDP mainly because of...
Source: https://justthenews.com/government/congress/national-debt-nears-31-trillion?utm_source=justthenews.com&utm_medium=feed&utm_campaign=external-news-aggregators