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Fortune
Fortune
Jason Ma

A U.S. 'debt spiral' could start soon as the interest rate on government borrowing is poised to exceed economic growth, budget watchdog says

CBO Donald Trump Economic Growth CRFB Treasury Department
(Credit: Getty Images)

Total federal debt is nearing an ominous milestone in a few years, but a potentially more troubling tipping point could also arrive soon.

According to the latest projections from the Congressional Budget Office, publicly held debt is currently at $31 trillion and is about 100% of GDP. By fiscal year 2030, debt is expected to exceed the 106% record set after World War II, then surge to 120% by 2036.

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