US federal debt heads towards more than 100% of GDP

US federal debt heads towards more than 100% of GDP
Janet Yellen urges Congress to work together on US debt. (Image: Bloomberg)
Bloomberg
(Bloomberg) - The Congressional Budget Office warned in its latest projections that US federal government debt is on a path from 97% of GDP last year to 116% by 2034 – higher even than in World War II. The actual outlook is likely worse.From tax revenue to defence spending and interest rates, CBO forecasts released this year are underpinned by rosy assumptions. Plug in the market’s current view on interest rates, and the debt-to-GDP ratio rises to 123% in 2034. Then assume – as most in Washington do – that ex-Presid...

More Finance

TVNZ targets one million digital viewers logged in by 2030
Finance

TVNZ targets one million digital viewers logged in by 2030

The latest performance forecast unfolds the broadcaster’s online ambitions.

JPMorgan is revamping Its bank for the superrich
Finance

JPMorgan is revamping Its bank for the superrich

There is a minimum required balance of US$10 million. 

Port of Auckland to pay $45m special dividend to council
Finance

Port of Auckland to pay $45m special dividend to council

The divestment proceeds will be used to top up the Auckland Future Fund.

Oliver Lewis 27 Jun 2025