Congressional Budget Office Director Phillip Swagel said faster economic growth is unlikely to keep U.S. debt in check, even if GDP expands at more than double its current pace.
Gross debt is now $40 trillion, and publicly held debt is 100% of GDP. Just keeping that ratio flat, let alone bringing it down, would require a massive, sustained boom. For now, CBO see the debt-to-GDP ratio soaring to 120% by 2036.
