The CBO issued its latest ten-year budget and economic outlook earlier this year. It projects the public portion of the U.S. national debt will reach 116% of GDP by 2034.

That projection is based on what many fiscal policy observers describe as overly optimistic assumptions. Bloomberg’s economists wanted to find out how really sustainable the U.S. government’s current fiscal policies are over this short term. To find out, they ran one million simulations of how the national debt could change over the next 10 years.

Those simulations start with the CBO’s baseline projections. These assumptions include things like recession-free real GDP growth of 2% a year and inflation that runs at........

© Eurasia Review