NewsMaxFinance/Thomson-Reuters/3-5-2021
“The U.S. federal debt burden will double over the next 30 years, reaching 202% of economic output in 2051, as deficits grow and interest rates eventually rise, the Congressional Budget Office said on Thursday in its latest long-term budget projections.”
USAGOLD note: This projection from the Congressional Budget Office has a troubling aspect. We post charts regularly here that show the relationship between ceaseless growth in the national debt and the rising price of gold over the longer run. Since the current ratio is 127% as of the third quarter last year, the latest CBO numbers tell us that the deficit and debt problem will be with us for a very long time to come. Since economists consider anything over 100% excessive, questions about the sustainability of the current financial system naturally arise ……
Sources: St. Louis Federal Reserve, Office of Management and Budget
