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Today, the Congressional Budget Office (CBO) updated their budget projections, showing that rising interest payments and the structural mismatch between spending and revenues continue to fuel the nation’s unsustainable fiscal outlook. Below are some of the key takeaways from CBO’s report:
CBO’s report once again shows that the nation’s fiscal trajectory is on an unsustainable path. The structural mismatch between federal spending and revenues, along with the recent rise in interest rates and therefore federal borrowing costs, will pose challenges for the federal budget, our economy and our future if left unaddressed.
Related: Interest Rates Are Climbing Higher Than Expected, Leading to Pressure on the Federal Budget
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