AFMC - CBO Says Fiscal Trajectory Is Unsustainable - Is Anyone Responding To The 5-Alarm Fire?
2024-02-18 10:30:00 ET
Summary
- Director of the Congressional Budget Office and other financial experts warn that the US fiscal trajectory is unsustainable.
- Publicly held debt has ballooned to $26 trillion, reaching 99% of GDP, and is projected to rise to 116% by 2034.
- Net interest outlays are skyrocketing, with projections showing it will increase by 32% in 2024 and reach $1.628 trillion by 2034.
Phillip Swagel, Director of the Congressional Budget Office ((CBO)), testified before the House Budget Committee this past week, and said that our “Fiscal Trajectory is Unsustainable.”
He is not alone in his view.
Fed Chairman Jay Powell, who rarely speaks about Fiscal Policy, appeared on 60 Minutes on February 4, 2024 and said “The US Government is on an unsustainable fiscal path.”...
CBO Says Fiscal Trajectory Is Unsustainable - Is Anyone Responding To The 5-Alarm Fire?