Congressional Budget Office: U.S. Public Debt Projected to Reach 99.9% of GDP in 2025

On January 18, the U.S. Congressional Budget Office (CBO) projected the U.S. budget deficit for fiscal year 2025 to be $1.865 trillion, compared to $1.832 trillion in fiscal year 2024, and the U.S. public debt is projected to reach 99.9 percent of GDP by 2025, and will reach 99.9 percent of GDP by fiscal year 2035, according to current law. Under current law, the U.S. public debt is projected to reach 99.9% of GDP by 2025 and rise to 118.5% by FY2035.

U.S. real GDP growth is projected to be 1.9% in 2025, a downward revision from the June forecast of 2.0%, and is expected to grow at an average annual rate of 1.9% between 2024 and 2034. (Golden Ten)