Biden’s 2023 Budget Will Cause US Debt To ‘Rise To Record Levels Within A Decade’

President Biden’s budget for fiscal year 2023 would cause U.S. debt to “rise to record levels within a decade,” according to an analysis from the Committee for a Responsible Federal Budget, a non-profit public policy organization. “Debt would rise to record levels within a decade, from 102.4 percent of Gross Domestic Product (GDP) at the end of FY 2022 to 106.7 percent by 2032. Prior to the pandemic, debt was less than 80 percent of GDP. Nominal debt would grow from $24.8 trillion at the end of FY 2022 to $39.5 trillion by 2032,” a summary of the analysis states. “Deficits would


