Even if the U.S. avoids some of the worst-case scenarios, ballooning debt and the cost of servicing it could eventually slow economic growth and make the burden unsustainable, according to a former International Monetary Fund official.
Debt held by the public, or the amount the U.S. owes to outside lenders after borrowing on financial markets, is already at about 100% of GDP, and forecasts from the Congressional Budget Office show that ratio will climb to 116% in 2034, 139% in 2044, and 166% in 2054.
