CBO says US budget deficits to widen, national debt to surge to 156% of GDP
1. CBO forecasts U.S. debt will exceed GDP by 2055. 2. Federal deficits likely to rise to 7.3% of GDP by 2055. 3. Social Security funds projected to deplete by 2033, risking 24% benefit cuts. 4. Interest expenses projected to grow significantly, impacting economic growth. 5. High debt could raise risks of a fiscal crisis and inflation.