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Federal Debt Will Explode Over Next 10 Years, CBO Says
Kevin G. Hall, Jan. 26, 2015, McClatchy DC
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By 2025, the annual budget deficit is forecast to hit 4 percent of the overall economy, much higher than the 2.7 percent historical average.
The federal government is expected to spend $277 billion on interest on the debt in the current fiscal year. That’s projected to soar to $827 billion by 2025. As a percentage of the economy, it would more than double from 1.3 percent in 2015 to 3 percent in 2025.
Read more: www.mcclatchydc.com
The federal government is expected to spend $277 billion on interest on the debt in the current fiscal year. That’s projected to soar to $827 billion by 2025. As a percentage of the economy, it would more than double from 1.3 percent in 2015 to 3 percent in 2025.
Read more: www.mcclatchydc.com
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