Eye On Freedom – Keeping a watchful eye on the preservation of our liberty at home and freedom around the world

The federal government will face crushing budget deficits and a rapidly soaring national debt unless there is a drastic change in policy over the next few decades, a federal body of nonpartisan budget analysts said Wednesday.

According to an analysis from the Congressional Budget Office, federal spending will climb to 26 percent of GDP within the next decade and reach highs of up to 35 percent by 2035. The report claims that rising health care costs combined with an aging population will lead to significant increases in federal spending, and the national debt will grow worse unless sweeping policy changes occur. The national debt is estimated to rise as high as 87 percent of GDP in ten years, make its way to 109 percent by 2025 and could peak at 185 percent by 2035.

Read more….

No related posts.