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Story summary
- Experts say failure to make fiscal choices caused the debt surge, pushing borrowing to post-World-War II levels.
- Public debt hit $31.27 trillion, or 100.2 % of GDP, as of March 31, per the Bureau of Economic Analysis.
- The Congressional Budget Office projects debt-to-GDP will hit 108 % by 2030 and 120 % by 2040.
- Maya MacGuineas urges halting borrowing to achieve a 3 % of GDP deficit.
- Marc Goldwein warns debt could raise rates and spur inflation.
