Some Jaw-Droppers

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I stumbled upon the latest long-term projection of U.S. from the Congressional Budget Office, and even if we ignore the fact that these projections are based on rosy estimates with absolutely no surprises along the way, these are some jaw-dropping charts. And, spoiler alert, things will be WAY worse than they are guessing. Anyway…………

Federal debt held by the public is projected to equal 202 percent of gross domestic product (GDP) in 2051, and the deficit is projected to equal 13 percent of GDP.

Percentage of Gross Domestic Product

Percentage of Gross Domestic Product

Federal spending grows from an average of 21.3 percent of GDP over the 2010–2019 period to an average of 29.7 percent over the 2042–2051 period in CBO’s projections.

Federal Debt Held by the Public, 1900 to 2051