U.S. debt will overtake GDP next year for the first time since 1946, CBO says
CNN reports: The US debt is projected to exceed the size of the entire country’s economy next year, the Congressional Budget Office said Wednesday. It will be the first time the federal debt could be bigger than the US gross domestic product since 1946, just after World War II. The CBO also projected that the federal budget deficit will hit $3.3 trillion this year, more than triple the shortfall recorded in 2019. That would be the largest deficit as a…