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Center for Public Finance

Milestone: U.S. Debt at 100% of GDP

Jorge Barro

Milestone: U.S. Debt at 100% of GDP.

The national debt is projected to exceed 100% of GDP in 2023 — a milestone not seen since World War II. While in both cases, debt-financed spending soared to combat a growing crisis, fellow Jorge Barro explains why the surge in federal debt today will be very different from the last.