The Corner

Economy & Business

CBO: Federal Debt to Hit 101 Percent of GDP This Year

The latest projection from the Congressional Budget Office:

Federal debt held by the public would be 101 percent of GDP by the end of fiscal year 2020 and would grow to 108 percent of GDP at the end of 2021, compared with 79 percent at the end of fiscal year 2019. Debt relative to GDP is projected to be 20 percentage points higher at the end of 2020 and 26 percentage points higher at the end of 2021 than in CBO’s March baseline projections.

The only time in U.S. history when the federal debt held by the public topped 100 percent of GDP was 1945-1946.

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