The national debt will hit $20 trillion after the next president is
sworn in next year — a figure double that of when Barack Obama assumed
the presidency in 2008, The Daily Signal reports.
The forecast comes from Washington think tank, the Bipartisan Policy Center, which projects the debt cap limit to be reinstated on March 16 at $20.1 trillion.
"When the debt limit is reinstated, the federal government's
accumulated debt will immediately equal the new ceiling," the Bipartisan
Policy Center writes. "The only way for Treasury to ensure that it
continues to meet all government obligations in full and on time —
absent action by policymakers — would be by deploying so-called
'extraordinary measures.' These include various legal maneuvers that
allow Treasury to temporarily reduce its intragovernmental debt — such
as by delaying contributions to federal retirement funds — to make room
for additional borrowing from the public that is necessary to finance
current obligations."
The forecast comes from Washington think tank, the Bipartisan Policy Center, which projects the debt cap limit to be reinstated on March 16 at $20.1 trillion.
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