As federal spending continues to rise, accumulated federal debt will soon reach all‐time highs relative to the size of the economy. Federal debt held by the public will hit 107 percent of gross domestic product (GDP) in 2028, surpassing the previous peak after World War II. The Congressional Budget Office (CBO) often highlights the rising debt‐to‐GDP ratio as a warning for policymakers to change course and avert a debt crisis.
