CBO: We’ll Be Maxed Out in Nine Years

On Tuesday, the CBO released the 2012 version of its long-term federal budget outlook.  How bad is the outlook? As James Pethokoukis and others noted, it’s so frighteningly bad that the CBO couldn’t project its worst-case scenario on the economic impact of the national debt.   According to Page 38 in the full report, “Debt would reach 250 percent of GDP (gross domestic product) by 2035 under the assumptions leading to these estimates.  Read more details at



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