WebMemo posted July 27, 2010
U.S. Long-Term Debt Situation Is One of the World’s Worst
This year, the U.S. public debt is projected to reach 62 percent of the economy—up from 40 percent in 2008 and nearly double the historical average, according to recent Congressional Budget Office (CBO) estimates. The financial crisis and recession drove much of this debt swing, yet larger problems loom in the future.
By 2030, the CBO projects that debt will more than…