The ratio of federal debt to US GDP will reach 78% by the end of this year

The ratio of federal debt to the US GDP by the end of 2018 will reach 78%, the maximum since 1950, The Washington Post writes referring to the forecast of the US Congressional Budget Office. It is expected that in 2028 the debt will increase to 96% of GDP and, ultimately, may exceed the historical maximum of 106% achieved in 1946. Currently, the debt of the federal budget is about 15 trillion dollars. According to the US Treasury, the deficit of the state budget in May increased by 66% in annual terms and reached the maximum since 2009, the value of 146 billion 800 million dollars. Revenues decreased by 9.7%, expenses increased by 10.7%. Over the 8 months of the current fiscal year, the budget deficit increased by 23%. Expenses grew by 5.9%, incomes - by 2.6%.

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