The Renaissance Macro Research Institute predicts that the U.S. government will be plunged into debt within the next few decades, which could lead to disaster for markets and the economy.
The institute cited recent data from the Congressional Budget Office, which predicted that the government debt-to-GDP ratio would nearly double from 98 percent in 2023 to 181 percent in 2053.
In an alternative scenario formulated by the Council on Responsible Federal Budgets, the debt-to-GDP ratio could rise to 222 percent of GDP in 2053.
Source (CNBC Arabic Website, Edited)
