CBO Sees U.S. Federal Debt Almost Double Economy’s Size in 2050

The U.S. government’s debt will swell over the next 30 years to almost double the size of the economy, raising the risk of a fiscal crisis or a drop in the value of Treasuries, the Congressional Budget Office said Monday.

The nonpartisan agency, in its long-term budget outlook, projected debt will reach 195% of gross domestic product in 2050, up from 98% this year and 79% in 2019. That compares with the prior 2050 forecast of 180% from January, before the coronavirus pandemic struck the nation and spurred Congress to pass about $3 trillion of stimulus.