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CBO Issues Bleak Long-Term Budget Outlook

June 7, 2012 1 minute Read by Four Percent

Associated Press, Fox News The Congressional Budget Office is again warning that the government's mounting debt problems threaten to swamp the economy unless policymakers move to arrest out-of-control deficits. The national debt would balloon to almost equal the size of the economy after a decade and would swell to twice the size of the economy in 25 years, the CBO says, assuming existing tax and spending policies stay in place. Read More