CBO: Federal Debt to Hit $28.2 Trillion Over Next Decade

[rangerrebew]

 CBO: Federal Debt to Hit $28.2 Trillion Over Next Decade
Posted By Ali Meyer On August 25, 2016 @ 5:00 am In Issues | No Comments

Outstanding federal debt is projected to hit $28.2 trillion over the next decade, according to a report from the Congressional Budget Office.

At the end of this year, outstanding federal debt is expected to climb to $19.4 trillion and to rise by $8.8 trillion in the next ten years.

The federal government’s budget deficit, which is the difference between how much money the government spends and how much money it takes in through tax collection, will be $590 billion by the end of 2016, $152 billion more than the previous year.
 

Article printed from Washington Free Beacon: http://freebeacon.com

URL to article: http://freebeacon.com/issues/cbo-federal-debt-hit-28-2-trillion-next-decade/

[Oceander]

At what point does the debt become unsupportable?  If/when that point is reached, will we be able to gracefully step back from the edge of the cliff, or will we simply plummet over the edge, and if the latter, what happens then; what happens when we hit the bottom?

[Free Vulcan]

At what point does the debt become unsupportable?  If/when that point is reached, will we be able to gracefully step back from the edge of the cliff, or will we simply plummet over the edge, and if the latter, what happens then; what happens when we hit the bottom?

When we can no longer pay the interest. If interest rates start going up, then interest costs will eat up our budget.

At that point it will be financial collapse, and likely a breakup of the USA.