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Today, the nonpartisan Congressional Budget Office (CBO) released its Long-Term Budget Outlook, which offers a look at the nation’s fiscal health through 2053. The report highlights the structural misalignment in the country’s budget and the resulting unsustainable fiscal trajectory.
Here are six key takeaways from CBO’s latest projections.
The nation is on an unsustainable fiscal path, driven by the mismatch between the government’s commitments and its revenues. Furthermore, the accumulation of federal debt and relatively high interest rates will push the government’s borrowing costs increasingly higher — crowding out investments in other priorities. Policymakers should work together to establish a positive fiscal future for the United States.
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