The US national debt just rose to a new all-time high of $34.75 trillion.
This new achievement comes after the country’s outstanding debt jumped to $69.41 billion in one day, according to new figures from the US Treasury’s debt to Penny. Database.
According to a new report from the Congressional Budget Office (CBO), the country’s total public debt stands at $1 Expected To reach $50.7 trillion by the end of 2034.
“As a share of GDP, debt is expected to reach 109% in 2028, an amount greater than ever before in the country’s history.
Debt will continue to increase over the remainder of the forecast period, equivalent to 122% of GDP at the end of 2034 – about 25 percentage points greater than at the end of 2023 and two and a half times the average percentage over the 50 years. past. “.
The new forecast is much higher than just four months ago, when the agency said it expected debt to reach $48.3 trillion by 2034, equivalent to 116% of gross domestic product.
The Central Bank of Oman expects that the inflation rate will slow during the remainder of this year and next year.
“Inflation jumped in the first quarter of 2024, after falling since late 2022. The Congressional Budget Office expects inflation to slow over the remainder of 2024 and into 2025, reaching the Fed’s target of 2 percent by 2026 and stabilizing after that.
In response to this slowdown in inflation, the Federal Reserve is expected to begin lowering the federal funds rate in early 2025.
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