CSPAN3 CBO July 4, 2024
The economy. This is about 40 minutes. 1. 6 trillion dollars, interest outlays are roughly 1. 5 times larger than either defense or nondefense spending. Also boosted deficits are two underlying trends, the aging of the population and growth in federal Health Spending per beneficiary. Those trends put upward pressure on mandatory spending. Measured in relation to economic output, federal debt by help held by the public rises to 99 in 2024 to 160 in 2034. Surpassing its historical peak. And then the debt ratio continues to rise, reaching 172 by 2054. From 2024 to 2033, the deficit is about 7 sma...