The US national debt will balloon by nearly $20 trillion over the next decade under the spending outlined in President Biden’s $6.9 trillion budget proposal released on Thursday.
Under Biden’s budget plan for fiscal 2024, the gross national debt would surge to nearly $51 trillion as of the year 2033 — up from its current level of roughly $31.5 trillion.
The federal debt as a share of US gross domestic product (GDP) would swell to a record 110% by 2033, up from 98% this year – shattering a...
