U.S. Congressional Budget Office: Debt levels will reach a record high in 2029

The U.S. Congressional Budget Office stated on the 27th that the ratio of publicly held federal government debt to gross domestic product (GDP) will rise from 100% in 2025 to 107% in 2029, reaching a historical high. The report titled "Long-Term Budget Outlook: 2025 to 2055," released by the Congressional Budget Office on the same day, shows that driven by large deficits, the ratio of publicly held debt to GDP will exceed the post-World War II historical peak in 2029 and will continue to grow. By 2055, the ratio of publicly held debt to GDP will reach 156%, and this figure will continue to trend upward. The report predicts that federal government fiscal deficits will remain at historically high levels over the next 30 years, reaching 7.3% of GDP by 2055