By the end of 2034, the public debt of the United States could reach a mark in historical values – 116 per cent of gross domestic product (GDP) – and will continue to increase. This follows from the forecast of the Budget Office of the American Congress for the period 2024-2034.
“Public debt will increase from 99% of GDP at the end of 2024 to 116% of GDP – the highest level ever – by the end of 2034. After 2034, the debt will continue to grow if current laws remain generally unchanged,” the US Congressional Budget Office said in its forecast.
According to the data of American financiers, the deficit of the U.S. federal budget by the results of 2024 will be formed in the region of 1.6 trillion dollars, and in 2034 will increase to 2.6 trillion dollars.
Recall, earlier the channel News Nation said that the inhabitants of the United States have debts more than ever in history. Today, the cost of living for the average American has increased by 14 per cent, and the total debt of American citizens has reached $ 17 trillion.