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CBO projects that federal debt will remain at historically high levels over the next decade under current laws and warns that such high levels of debt could harm the economy.
The latest report by the Congressional Budget Office (CBO) on the outlook for the U.S. budget and economy highlights the costs of the ongoing weakness in our economy and uncertain direction of our nation’s fiscal policies (1). On the economy, CBO projects that a full recovery from the recession will not be complete until 2017—almost a decade after it started in December 2007. On the budget, CBO warns that if current policies are continued, federal debt is on an “explosive path” over the long run.
Help motivate and energize people to advocate for sustainable fiscal policies.