The US public debt is reaching an astronomical level and Congress is warning

Reports from the US Congressional Budget Office indicate that the US public debt will reach a historic record of 116% of the size of the US GDP by the end of the year 2034, which indicates the continued growth of this debt.

Reports show that public debt will increase from 99% of GDP expected at the end of 2024 to 116% by 2034, the highest level in history.

CBO estimates expect the public debt to reach about 101.7% of the size of the US economy by the end of 2025.

The bureau also notes warnings about the rising cost of debt servicing, with the US budget deficit expected to increase by roughly two-thirds in the next decade, and government payments to debt holders will account for about three-quarters of the increase in the deficit through 2034.