Budget Digest: Why the Debt Matters
November 18, 2019
November 18, 2019
WASHINGTON, Nov. 18 -- Rep. Steve Womack, R-Arkansas, ranking Republican member of the House Budget Committee, issued the following budget digest:
The Federal Debt is on an Unsustainable Trajectory. The publicly-held debt has averaged 42 percent of gross domestic product (GDP) over the last 50 years; it is at 79 percent of GDP ($17 trillion) today, and it is projected to grow to 144 percent of GDP ($96 trillion) by 2049--which would be by far the highest level in American history. A . . .
The Federal Debt is on an Unsustainable Trajectory. The publicly-held debt has averaged 42 percent of gross domestic product (GDP) over the last 50 years; it is at 79 percent of GDP ($17 trillion) today, and it is projected to grow to 144 percent of GDP ($96 trillion) by 2049--which would be by far the highest level in American history. A . . .