US EditionReport warns U.S. national debt predicted to pass $53 trillion by 2035
- By fiscal year 2035, the national debt in the U.S. is set to exceed $53 trillion, or 120% of the nation's Gross Domestic Product, according to the Committee for a Responsible Federal Budget .
- Yearly interest payments on the national debt are expected to rise from nearly $1 trillion in 2025 to $1.8 trillion in 2035, according to the report.
- CRFB estimates that yearly deficits will total $22.7 trillion over the next ten years, which is $1 trillion more than the Congressional Budget Office's January estimate.
- CRFB urged lawmakers to enact budget measures to ensure the nation's finances become sustainable, citing concerns over the high debt levels.
Insights by Ground AI
Does this summary seem wrong?
50 Articles
50 Articles
Report Warns U.S. National Debt Predicted to Pass $53 Trillion by 2035
by Thérèse Boudreaux By fiscal year 2035, the national debt is set to surpass $53 trillion, or 120% of the nation’s Gross Domestic Product, according to a new estimate by the Committee for a Responsible Federal Budget. The updated number – which CRFB reached by assuming that all current trade deals and tariffs remain in effect – is $1 trillion more than projected in the Congressional Budget Office’s January 2025 Budget and Economic Outlook. Ye…
Coverage Details
Total News Sources50
Leaning Left5Leaning Right11Center10Last UpdatedBias Distribution42% Right
Bias Distribution
- 42% of the sources lean Right
42% Right
L 19%
C 38%
R 42%
Factuality
To view factuality data please Upgrade to Premium
