In response to a request from Budget Committee Chairman Jodey Arrington, CBO provides information about the agency’s long-term projections of gross federal debt. By the end of 2053, such debt is projected to reach 192 percent of GDP.
CBO has projected gross federal debt through 2053, assuming that existing laws governing taxes and spending generally remain unchanged. In CBO’s projections, gross federal debt amounts to 124 percent of gross domestic product (GDP) at the end of fiscal year 2023 and 129 percent by the end of 2033. By the end of 2053, such debt reaches 192 percent of GDP.
