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CBO outlook on long-term debt worsens

Posted on June 22, 2011 by Kendall Harmon

New figures released Wednesday by the Congressional Budget Office (CBO) show debt rising to 190 percent of the gross domestic product by 2035.

The annual long-term budget outlook forecasts a surge in public debt this year that will rise to 70 percent of GDP by the end of fiscal 2011, compared to 62 percent by the end of 2010.

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Posted in * Economics, Politics, Budget, Economy, House of Representatives, Office of the President, Politics in General, President Barack Obama, Senate, The National Deficit, The U.S. Government

2 comments on “CBO outlook on long-term debt worsens”

  1. Archer_of_the_Forest says:
    June 22, 2011 at 9:15 pm

    Swell, the year I could be eligible to retire early. Wait…I know better. No one in my generation is going to be able to retire unless they are a self-made millionaire.

  2. David Keller says:
    June 23, 2011 at 8:07 pm

    Archer–I’m 61 and don’t see how I can retire before I’m at least 70. On another note, can some one explain to me why Obama doesn’t fire Geitner and ask for Bernankie’s resignation?