A new report from the non-partisan Congressional Budget Office (CBO) warns that the “high and rising debt would have serious negative consequences for the budget and the nation,” including reduced incomes for families, an increased likelihood of financial crisis, and decreased flexibility for lawmakers when responding to unexpected challenges.
Here are five key takeaways — drawn from our analysis of the report — to help you better understand the scope, drivers, and consequences of our fiscal challenge:
To learn more about the CBO report, read the full analysis.
Want to keep abreast of fiscal developments? Sign up for our email newsletters.