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CBO: U.S. national debt to hit 202% of GDP by 2051, up from 102%

FILE - In this April 29, 2020 file photo, a man wearing a mask to protect against coronavirus, waits to cross the street as a digital sign displays groups of people walking above another sign displaying the size of the national debt along an empty K Street in Washington. The U.S. budget deficit hit an all-time high of $3 trillion for the first 11 months of this budget year, the Treasury Department said Friday, Sept. 11. (AP Photo/Andrew Harnik, File)

FILE - In this April 29, 2020 file photo, a man wearing a mask to protect against coronavirus, waits to cross the street as a digital sign displays groups of people walking above another sign displaying the size of the national debt along an empty K Street in Washington. The U.S. budget deficit hit an all-time high of $3 trillion for the first 11 months of this budget year, the Treasury Department said Friday, Sept. 11. (AP Photo/Andrew Harnik, File)

FILE – In this April 29, 2020 file photo, a man wearing a mask to protect against coronavirus, waits to cross the street as a digital sign displays groups of people walking above another sign displaying the size of the national debt along an empty K Street in Washington. (AP Photo/Andrew Harnik, File)

OAN Newsroom
UPDATED 8:23 AM PT – Friday, March 5, 2021

The U.S. national debt is spiraling out of control as Joe Biden continues to back a flurry of costly spending measures.

According to the Congressional Budget Office on Thursday, America’s national debt could exceed 202 percent of GDP by the year 2051. That marks a two-fold increase from current levels and still doesn’t take into account the $1.9 trillion coronavirus relief package.

The agency also found the U.S. economy will grow just 1.8 percent per year compared to the average 2.5 percent in pre-pandemic annual growth under President Trump. The CBO noted that even without Biden’s latest stimulus proposals, America’s budget deficit would exceed 10 percent of GDP this year alone.

“America’s in crisis…Congress spends with reckless abandon and rarely considers how today’s foolishness will impact our children and grandchildren,” stated Sen. Rick Scott (R-Fla.) “The Senate has no idea how states are spending their allocated funds…further spending without more information.”

Economists have said Biden’s policies are making U.S. economy less sustainable and self-reliant in the long-term.

MORE NEWS: Biden says Americans strongly support COVID relief bill, polls prove him wrong

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