The federal debt will reach unprecedented levels in the next three decades–unless Congress changes the laws.
That’s according to a report out from the nonpartisan Congressional Budget Office.
As it stands now, the national debt is at the highest level since World War II ended. According to the CBO, it will consume 78% of gross domestic product by the end of the year.
In 2007, it was 35% of GDP. If things continue unchanged, the CBO predicts debt to reach 144% of GDP by 2049.
Watch as Armstrong & Getty tell the terminally ill patient to swallow a bitter pill…