The CBO's latest sobering outlook on the U.S. economy says cumulative federal debt will reach...

|By:, SA News Editor

The CBO's latest sobering outlook on the U.S. economy says cumulative federal debt will reach nearly 70% of GDP by year's end, up from ~40% in 2008, and would reach ~200% of GDP in 25 years without changes in current policies. With the retirement of Baby Boomers and the rising cost of medical care, the U.S. government would become mostly a provider of annuities and medical insurance.