The burden of American debt at the top of the top World War II in the coming years, says Watchdog

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The burden of the USS federal debt is expected to exceed the summit it has reached following the Second World War in the years to come, warned Watchdog tax congresses, highlighting the growing concerns concerning public finances of the Americas.

The Congressional Budget Office said Thursday that the United States’s debt / GDP ratio would reach 107% during the 2029 fiscal year exceeding the 1940th era peak and continued 156% by 2055. The GDP debt ratio should be 100% for the 2025.

The projections come only a few days after Moodys has given a warning regarding the sustainability of the USS budgetary position, the rating agency claiming that President Donald Trumps Taarifs could compromise attempts to control his large federal deficit by increasing interest rates.

The assembly of the debt would slow economic growth, would increase payments of interest to foreign holders of American debt and present significant risks for budgetary and economic prospects; This could also ensure that legislators feel limited in their political choices, the CBO announced on Thursday.

Despite the extent of the increase in the debt burden, the expansion rate should be less drastic now than expected a year ago due to the lower interest rate CBOS assumptions, less expenses for health insurance and higher income.

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The Trump administration is committed to finding the tax point to deliver its campaign commitment to substantial tax reductions for businesses and households.

Trump gave the billionaire Tech, Elon Musk, the research work of $ 2 TM of federal spending discounts in the middle of next year while the president seeks to renew the tax reductions set up in 2017, during his first administration.

The president also increased the possibility of reducing corporate tax on interior activities from 21% to 15%.

CBO calculations do not take into account the impact of Trumps tax reductions becoming permanent a decision which, according to the budgetary Watchdog, would add 47 percentage points to the debt / GDP ratio of the United States by 2054.

The Trump administration believes that income from radical prices could fill the gap left by falling income from income and corporate taxes.

However, economists from the Peterson Institute, a Washington reflection group, have challenged the complaint that trade samples will be sufficient to compensate for the potential loss of billions of dollars in income tax income.

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The US federal government has executed substantial budget deficits each year from the pandemic, expenses exceeding 6.4% of GDP revenues last year. The CBO said that deficits would probably remain high, going to 7.3% by 2055 slightly lower than expected in March 2024.

Calculations assume that the growth of the United States in the long term will be slightly lower than expected a year ago. The CBO believes that lower growth is largely lowered unless immigration, the American population which was to start shrinking in 2033.

Video: why governments are “dependent” of debt | Film FT

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