{"id":23848,"date":"2024-02-16T01:54:54","date_gmt":"2024-02-16T07:54:54","guid":{"rendered":"https:\/\/ustower.net\/?p=23848"},"modified":"2024-02-16T01:54:59","modified_gmt":"2024-02-16T07:54:59","slug":"soaring-us-national-debt-to-reach-double-annual-gdp-by-2050","status":"publish","type":"post","link":"https:\/\/ustower.net\/?p=23848","title":{"rendered":"Soaring US National Debt to Reach Double Annual GDP by 2050"},"content":{"rendered":"\n<p class=\"has-medium-font-size\">WASHINGTON (Sputnik) &#8211; US national debt will double annual Gross Domestic Product (GDP) in a quarter century and will grow faster than the domestic economy, driven by huge and growing Medicare and Social Security deficits, the Government Accountability Office (GAO) warned in a new report.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">&#8220;The federal government faces an unsustainable long-term fiscal path that poses serious economic, security, and social challenges if not addressed,&#8221; the report said on Thursday.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">The government&#8217;s accumulated debt is projected to grow faster than the entire economy, reaching 200% of GDP by 2050 if revenue and spending policies are unchanged, the report states.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">&#8220;Large budget deficits drive the\u00a0<a href=\"https:\/\/sputnikglobe.com\/20231013\/bidens-military-aid-for-multiple-conflicts-undermines-us-economy-1114169713.html\" target=\"_blank\" rel=\"noreferrer noopener\">growing debt<\/a>, as Medicare and Social Security spending outpace revenue,&#8221; the GAO said.<a href=\"https:\/\/sputnikglobe.com\/20240216\/soaring-us-national-debt-to-reach-double-annual-gdp-by-2050-1116810146.html#\"><\/a><\/p>\n\n\n\n<p class=\"has-medium-font-size\">Government interest spending as a share of GDP will reach an all-time high by 2030, in part due to rising interest rates, the report added.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><a href=\"https:\/\/sputnikglobe.com\/20240216\/soaring-us-national-debt-to-reach-double-annual-gdp-by-2050-1116810146.html\">sputnikglobe<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>WASHINGTON (Sputnik) &#8211; US national debt will double annual Gross Domestic Product (GDP) in a quarter century and will grow faster than the domestic economy, driven by huge and growing Medicare and Social Security deficits, the Government Accountability Office (GAO) warned in a new report. &#8220;The federal government faces an unsustainable long-term fiscal path that [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":23849,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1155],"tags":[26630,26629,1703,4195,1198],"class_list":["post-23848","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-26630","tag-gdp","tag-soaring","tag-treasury-bonds","tag-america"],"_links":{"self":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/23848","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=23848"}],"version-history":[{"count":1,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/23848\/revisions"}],"predecessor-version":[{"id":23850,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/23848\/revisions\/23850"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/media\/23849"}],"wp:attachment":[{"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}