New Report Highlights Rising Debt

A new report released Wednesday by the Congressional Budget Office projects the nation’s debt as a percentage of its GDP to grow sharply over the next two decades.

Whereas a similar report put out by the nonpartisan agency last year projected the debt level to increase to 185 percent of GDP by 2035, this year’s report puts that figure at 190 percent.

The projection assumes the continuation of the Bush tax cuts and an increase in the so-called Medicare “doc-fix,” which is the system in which the federal government reimburses physicians that accept Medicare.

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