Home » Economy, Financial Crisis, North America » US budget deficit to increase twofold in 10 years


US budget deficit to increase twofold in 10 years

 
 
 
 
 
submit to reddit

The Congressional Budget Office predicts a negative evaluation of the US revenues in the coming 10 years.

The analysts noted, that despite the current growth of the country’s revenues, the problem of a huge public debt still cannot be solved, that can generate a twofold deficit of the state budget by 2025.

Government revenue will continue to increase, and will reach $5 trillion by 2025, which would be roughly 50% higher than it is today. However, government spending will grow at a much greater rate, and will increase faster than economic growth. “Later in the coming decade, under current law, growth in outlays would outstrip growth in the economy; outlays would rise to 22 percent of GDP in 2022 and remain at that level through 2025.”

By 2025, the US Government will have a $1 trillion deficit, which would be a 135% percent increase from today’s deficit.

And if a stock market collapse, or economic crisis happens by that time, “government’s debt will be astronomical,” the analysts concluded.

Source

VN:F [1.9.22_1171]
Rating: 5.0/5 (1 vote cast)
US budget deficit to increase twofold in 10 years, 5.0 out of 5 based on 1 rating
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  



RELATED ARTICLES

Did you like this information? Then please consider making a donation or subscribing to our Newsletter.
  • recalcitrant

    It’s all phony debt created purposely by the United States Corporation of the District of Columbia. The cabal owners of this illegal corporation is held in the city of London. Send them the bill. The American people are with the de jur Republic of the United States of America.

Copyright © 2009 The European Union Times – Breaking News, Latest News. All rights reserved.