US National Debt Will Surpass $50 Trillion USD in 2034, representing more than 122% of the country's GDP. This forecast was provided by the US Congressional Budget Office.
As stated in the document, “according to current forecasts, the national debt at the end of 2034 will be 50.7 trillion. USD“. In February, experts predicted that by 2034, the U.S. national debt would reach $48.3 trillion. USD, which will be equal to 116% of the country's GDP.
According to the forecast, the average annual growth of US GDP in 2029-2034 will be 1.8%.
At the beginning of January, the national debt of the USA exceeded 34 trillion. USD. In 2023, it grew by more than 4 trillion. USD. On June 3, 2023, President Joe Biden signed into law a bill previously approved by Congress to increase the national debt ceiling. The limit will now be reached on January 2, 2025