Saturday, September 8, 2012
Debt forecast - U.S. will look like Greece by 2021
Currently, the CBO estimates that the federal debt will hit $25 trillion by 2021. But if that forecast is also off by 40%, we’ll actually be facing a federal debt of $35 trillion by then.
What will our country look like with a $35 trillion debt? The CBO has a good track record of predicting gross domestic product, and it predicts 2021’s economy will exceed $24 trillion. That will put our debt at almost 150% of GDP, or about where Greece is today...
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