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

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.
Comments (2)
  • WMARKW
    , contributor
    Comments (10251) | Send Message
     
    It's important to understand that their number is "Federal Debt Held by Public" not total US debt. Using total, we'll be over 100% of GDP by the end of September.
    6 Jun 2012, 01:21 PM Reply Like
  • Orange12
    , contributor
    Comments (2) | Send Message
     
    so why is Gold lower?
    6 Jun 2012, 03:31 PM Reply Like
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