Fitch Forecasts US Public Debt to Exceed 120% of GDP by 2027
Theo TASS
Fitch Ratings forecasts US public debt will exceed 120% of GDP by 2027, with budget deficits hitting 7.9% of GDP for two straight years. The current debt burden exceeds $39.1 trillion, or over $114,000 per American citizen.
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In a report released on May 1, international credit rating agency Fitch Ratings forecasts that US government public debt will exceed 120% of GDP by 2027.
"We project the federal government budget deficit at 7.9% of GDP this year and next, pushing already-high public debt above 120% next year under our baseline scenario," the report states.
Currently, the US public debt burden has surpassed $39.1 trillion, equivalent to more than $114,000 per citizen.
