US Congressional Budget Office: The US public debt is projected to reach 99.9% of gross domestic product in 2025

BlockBeats News, January 18th, U.S. Congressional Budget Office (CBO): The projected budget deficit for the U.S. fiscal year 2025 is $1.865 trillion, while the budget deficit for the 2024 fiscal year is $1.832 trillion. Under current law, it is projected that the U.S. public debt will reach 99.9% of GDP by 2025 and will rise to 118.5% in the 2035 fiscal year.

The projected real GDP growth rate for the U.S. in 2025 is 1.9%, down from the 2.0% forecasted in June, with an average annual growth rate of 1.9% expected from 2024 to 2034. (FX678)