‘Significant risk’ of US Treasury running ‘out of funds’ soon: Report

The United States government faces a “significant risk” of no longer meeting all of its financial obligations as early as June, as per a recent report.

However, based on its projected data, the CBO does not expect a decrease in the deficit’s growth anytime soon; it was predicted that the annual deficits will “nearly double over the next decade,” reaching $2.7 trillion in 2033.

The CBO predicts that 2033 will witness the highest level of national debt ever documented in the U.S., stating:

“As a result of those deficits, debt held by the public also increases in CBO’s projections, from 98 percent of GDP at the end of this year to 119 percent at the end of 2033 — which would be the highest level of U.S debt ever recorded.”

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