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Story summary
- The Congressional Budget Office projects deficits totaling $24.4 trillion over the next decade due to policy changes.
- The Committee for a Responsible Federal Budget (CRFB) warns debt could reach 120% of GDP by 2036, with rising interest costs.
- Trust funds for programs such as Social Security are nearing insolvency.
- CRFB urges lawmakers to enact substantial deficit reductions to stabilize the economy and avert a fiscal disaster.
