North Indy News

The Congressional Budget Office (CBO) has released its budget outlook for the next decade, projecting a significant rise in national debt. According to the report, the debt is expected to reach 118% of GDP by 2035, surpassing the previous high of 106% recorded after World War II in 1946. This forecast does not account for potential extensions of tax cuts, which could further increase deficits unless balanced by spending reductions. The outlook also assumes minimal inflationary growth in defense and discretionary spending, a scenario that appears unlikely given current trends.

The CBO's projections indicate that federal healthcare spending will nearly double over the next ten years. By 2035, it is expected to exceed all other categories of government expenditure, including social security and total discretionary spending such as defense. Healthcare costs are anticipated to reach almost $3 trillion annually or 7% of GDP.

Commenting on these findings, Spartz stated: “It's becoming criminal for Congress not to address our spending problem.” She urged her colleagues to act responsibly: “If any of my colleagues claim to be patriots, not pawns of the DC swamp, they will have to hold the ground for the future of our children. Our Republic will be doomed otherwise.”