Book Description
This report provides an update on the federal government's fiscal condition at the end of FY 2019 and the unsustainable path it is on if policies don't change. Among its findings: Publicly held debt rose to 79% of GDP. The Congressional Budget Office and this new report both project it will continue to grow. Interest on the debt is the fastest growing item in the budget; it is projected to be the largest spending category by 2049. The longer action is delayed, the more drastic the changes that will be needed to address the issue.