CBO Chief Warning: A Strong Economy Alone Cannot Stabilize U.S. Debt
2026-10-11 07:06:44
According to CoinMeta, Philip Swagel, the director of the Congressional Budget Office (CBO), stated at the Federal Reserve meeting in Minneapolis that strong economic growth alone is not sufficient to stabilize U.S. debt. He estimated that a growth rate of 5%-6% would be required, whereas the CBO's view is 3%. Currently, the total U.S. debt has reached 40 trillion dollars, with public debt accounting for 100% of the GDP. The CBO predicts that by 2036, the debt-to-GDP ratio will soar to 120%. Swagel pointed out that while economic growth can increase federal government revenue, it also drives up spending, particularly on social security benefits. He emphasized that growth alone is not enough to stabilize fiscal trajectories, and that political choices regarding revenue and spending are necessary.
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Source:Fortune
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