The national debt is over 100% of GDP and most of Congress is ignoring wishes to rein it in. It’s time to amend the Constitution
debt held by the public currently stands at a staggering $31.68 trillion, a little more than 100% of GDP. According to the nonpartisan Congressional Budget Office (CBO), if Washington continues to embrace its standard operating procedure, that figure is projected to climb to a stunning 175% of GDP over the next 30 years.
Reported by 1 outlet — Fortune. See all sources ↓
debt held by the public currently stands at a staggering $31.68 trillion, a little more than 100% of GDP. According to the nonpartisan Congressional Budget Office (CBO), if Washington continues to embrace its standard operating procedure, that figure is projected to climb to a stunning 175% of GDP over the next 30 years. These debt levels flash red. Centuries of historical evidence show that once public debt exceeds 90% of GDP, economic growth slows and major troubles follow.
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Why it matters
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- What's the story?
- debt held by the public currently stands at a staggering $31.68 trillion, a little more than 100% of GDP. According to the nonpartisan Congressional Budget Office (CBO), if Washington continues to embrace its standard operating procedure, that figure is projected to climb to a stunning 175% of GDP over the next 30 years.
- How widely is it covered?
- 1 outlet, average source rating 6.0/10.
- When was it last updated?
- 12m ago.
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The national debt is over 100% of GDP and most of Congress is ignoring wishes to rein it in. It’s time to amend the Constitution
Sources1TypeCoverageFortune