US National Debt

-- Don't worry; it'll collapse long before. -- Jenna Orkin

US Debt Could Double in 25 Years With Current Policies

U.S. public debt would balloon to twice the size of its economy in 25 years if current tax and spending policies are extended, Congress' budget referee said on Tuesday, delivering fresh fodder for a year-end budget brawl.

CNBC,

3 June, 2012

The Congressional Budget Office said in a new report that if tax cuts enacted under George W. Bush are allowed to expire as scheduled on Dec. 31, along with some other tax and spending policies, U.S. public debt would shrink significantly, falling to 53 percent of gross domestic product by 2037 from 73 percent this year.

By comparison, Greece, debilitated by a crushing debt crisis that may force it to leave the euro, is forecast to have a debt load topping 160 percent of its GDP this year.

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