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Large, growing debt would slow economic growth in US: CBO
US federal debt held by the public, measured as a percentage of GDP, will rise every year till 2055, the CBO projected. By 2029, that will climb to 107 per cent of GDP, exceeding the historical peak. In 2055, it will reach 156 per cent of GDP and rise thereafter. That would slow growth, push up interest payments to foreign holders of debt and pose key risks to the fiscal and economic outlook.
US federal debt held by the public, measured as a percentage of GDP, will rise every year till 2055, the CBO projected.
By 2029, that will climb to 107 per cent of GDP, exceeding the historical peak.
In 2055, it will reach 156 per cent of GDP and rise thereafter.
That would slow growth, push up interest payments to foreign holders of debt and pose key risks to the fiscal and economic outlook.
