We have the official forecast of what the national debt will look like in the years to come if we don’t fix the debt, and it is dire. While the prospect of debt growing indefinitely from already historical highs is cause enough for concern, the outlook is even more daunting when we put the numbers in human terms.
Last week, Congress finally settled federal government spending for this fiscal year...seven months into it. Now, it already finds itself behind in addressing the budget for the coming year. However, what is even more troubling is that all the time and effort is being spent on a small and diminishing share of the budget.
The recent forecast from the nonpartisan Congressional Budget Office (CBO) clearly shows that the national debt is on an unsustainable course. But the situation could get even worse if Washington continues to act irresponsibly.
Our new reality check confronts three current myths with the facts.
The latest long-term national debt forecast is gloomy. We should be doing something about this dark vision of our future now.
National Debt and You