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International Business Times
International Business Times
Luke Funk

Congressional Budget Office Offers Dire Warning About Annual Deficits Dwarfing GDP

Congressional Congressional Budget Office Phillip Swagel GDP Deficit CBO
Congressional Budget Office Director Phillip Swagel issued a warning about budget deficits. (Credit: C-SPAN)

The Congressional Budget Office says that the amount of federal debt held by the public is going to rise much higher than the Gross Domestic Product by 2035.

The nonpartisan CBO released its estimates during a briefing on Friday afternoon.

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