(VIDEO) CONGRESSIONAL BUDGET OFFICE: DEBT HEADED TO 103% OF GDP – LAST SEEN AT END OF WWII

CBO DIRECTOR: “How long the nation could sustain such growth in federal debt is impossible to predict with any confidence. At some point, investors would begin to doubt the government’s willingness or ability to meet its debt obligations, requiring it to pay much higher interest costs in order to continue borrowing money. Such a fiscal crisis would present policymakers with extremely difficult choices and would probably have a substantial negative impact on the country.”


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