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The national debt will keep soaring over the next 10 years, according to the CBO.
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The agency estimates the national debt will rise to $56 trillion by 2034.
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The national deficit, meanwhile, is set to hit $1.9 trillion by the end of this fiscal year.
The US’s $34 trillion debt mountain isn’t shrinking anytime soon.
According to the latest projections from the Congressional Budget Office, the national debt is on track to hit $56.9 trillion by the start of 2034.
The latest estimates reflect a steeper pace of government borrowing than predicted in the previous quarter. According to its report published on Tuesday, the federal agency’s newest projection implies a 64% increase in the national debt over the next 10 years, or around $3 trillion in debt tacked on every year for the next decade.
The US…
