The report lays out the high stakes. When the dot-com bubble burst in the early 2000s, U.S. debt stood at just 34% of GDP and the federal government was running a surplus. When the 2008 financial crisis hit, debt was 35% of GDP. When COVID-19 arrived, it was 79% of GDP. Today, the debt sits at roughly 100% of GDP, annual deficits are near 6% of GDP, and interest payments now consume nearly one-fifth of all federal revenue — roughly double the share from each of those prior crises.
But plans to paint the single yellow lines next week are still set to go ahead.
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