Publicly Held Debt Set to Skyrocket
Runaway spending, especially on Medicare, Medicaid, and Social Security, will drive federal debt to unsustainable levels. Total national debt includes publicly held debt—or debt borrowed in credit markets—and debt that one part of the government owes to another. Including intragovernmental debt, the national debt already exceeds the size of the nation's economic product (GDP).
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PUBLIC DEBT AS A PERCENTAGE OF GDP
Sources: Congressional Budget Office and Office of Management and Budget.