According to estimates the Congressional Budget Office (CBO), the total amount of US debt will rise to 150% of GDP as early as 2047, if not change the law on taxation and spending. Debt levels of households in the country has exceeded the record mark immediately after the Second World War.
New projections show a higher growth rate for the next 30 years compared with last year's long-term prognosis of an independent agency for the budget analysis and may persuade some members of Congress to vote for the tax reform plan, which was partly financed by higher deficits.
According to last year's CBO estimated that the US national debt had to reach 141% of GDP by 2046, while in 1946 the figure was 106% of GDP. This level will be reached in 2035, according to the CBO.
It is expected that the public debt will amount to about 77% of GDP and will increase to 89% in 2027 and 113% in 2017 in the 2037-m.
Recent forecasts suggest that the Affordable Health Care Act, the health care, known as of Obamacare, which the Republicans were unable to cancel last week, will remain in force even in the long term.
The projected increase in debt reflects the assessment of CBO to increase with the growing population on the care costs of people older than 65 years, increasing interest expenses and the assumption of slower economic growth.
Based on materials WELTRADE
