March 27th, 2010 5:51 pm
Federal Debt to be 90% of GDP by 2020
So says the Congressional Budget Office:
President Obama’s fiscal 2011 budget will generate nearly $10 trillion in cumulative budget deficits over the next 10 years, $1.2 trillion more than the administration projected, and raise the federal debt to 90 percent of the nation’s economic output by 2020, the Congressional Budget Office reported Thursday.
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