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U.S. federal debt to exceed size of economy even before Biden stimulus is approved, CBO says


U.S. federal debt to exceed size of economy even before Biden stimulus is approved, CBO says
Jeff Stein, The Washington Post
Feb. 11, 2021
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The U.S. Treasury Department building in 2012 in Washington, D.C.Washington Post photo by Robert Miller
WASHINGTON - America s federal debt is set to exceed the size of the entire U.S. economy this year for only the second time since the end of World War II, a reflection of the extraordinary emergency measures approved by Congress in response to the coronavirus pandemic, the nonpartisan Congressional Budget Office said Thursday.
The remarkable surge in federal borrowing is due largely to the more than $4 trillion in spending approved by the federal government to fight the pandemic since last March. As a result, the federal government s debt burden will in 2021 be larger than the size of total U.S. gross domestic product - a measure of all the goods and services in the economy, according to CBO. It s ....

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