WASHINGTON, March 27 (Xinhua) -- The U.S. Congressional Budget Office (CBO) on Thursday projected that U.S. federal debt held by the public will climb to 107 percent of gross domestic product (GDP) by 2029, exceeding the historical peak it reached immediately after World War II.
In the newly released "The Long-Term Budget Outlook: 2025 to 2055," the CBO said the debt held by the public, boosted by large deficits, reaches its highest level ever in 2029 and then continues to grow, reaching 156 percent of GDP in 2055.
