Photo: Guadalupe Pardo / Reuters
US national debt 2049 will increase to 144 percent of GDP and will reach the highest level in the country’s history. This is stated in the report of the Budgetary control of Congress.
According to the document, in 2019 the U.S. national debt is 78 percent of the country’s GDP. By 2029 it will amount to 92 percent. Its considerable growth in the coming decades will be associated with the budget deficit and the rules contained in the current legislation.
In the Budget management propose to amend the laws to stop the growth of debt. But it noted that it should be done carefully: for example, if the authorities decide to cancel established by the legislation changes in the programs of taxation and government spending, then the debt may increase to 2049 no to 144 percent, and 219 percent of GDP.
In February, the US national debt has reached a historic high in 22,012 trillion dollars. The newspaper USA Today noted that the debt is growing the most rapidly during the presidency of Donald trump, in particular, in connection with his tax reform.
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