Summary List Placement

Total US public debt is set to overtake the size of the national economy in 2021 even without the $1.9 trillion stimulus plan sought by President Joe Biden, according to the Congressional Budget Office.

Federal debt is projected to reach 102% of US gross domestic product through the end of the year, the nonpartisan agency said in a Thursday report. That’s up slightly from the end of last year when the share reached 100%.

The debt pile is expected to then shrink “for a few years” after 2021 before rising further. The CBO estimates that, by details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: BusinessInsider.Com