The looming budget disaster, in four charts

The looming budget disaster, in four charts

The Congressional Budget Office (CBO) recently published its 2017 Long-Term Budget Outlook which can be described as a serious warning to lawmakers about the impending deficit problems we are facing. The report states that by 2047, the federal debt will be 150% that of GDP, up from an expected 77% for this year. There are numerous reasons for this spike. An aging population, interest rate hikes and the growing costs of programs like Medicare and Medicaid all contribute to this growing problem, creating a situation where policy changes are essential in Washington.

 

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