• About
  • Advertise
  • Privacy Policy
  • Contact
Monday, August 25, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

US projects debt will balloon to more than double GDP by 2051

March 5, 2021
thevaultzby thevaultz
in USA, America
0
US projects debt will balloon to more than double GDP by 2051

Image: Getty Images

The US Congressional Budget Office (CBO) has projected the country’s federal debt will grow to more than double the GDP in 2051.

In its long-term budget outlook, the CBO said debt will be equivalent to 202% of GDP by 2051, from 102% this year. This, the office noted, will increase the risk of a fiscal crisis even though dangers appear low in the near term.

The CBO also said net interest payments on the debt are expected to remain relatively low for the next decade. But expects it to rise rapidly over the following 20 years.

RelatedPosts

Trump Signs Executive Order Targeting Flag Burning

Canada To Drop Tariffs On US Goods Under USMCA

New York Court Scraps Civil Fraud Penalty Against Trump

“The risk of a fiscal crisis appears to be low in the short run despite the higher deficits and debt stemming from the pandemic. Nonetheless, the much higher debt over time would raise the risk of a fiscal crisis in the years ahead.”

US Congressional Budget Office

Additionally, the agency projects a 10-year Treasury yield, after inflation, at 2.6% in 2050. The nominal yield was at 1.54%, near the highest in more than a year, on 4th March.

The CBO’s debt projections doesn’t reflect the $1.9 trillion stimulus plan currently working its way through Congress. Experts say the report will likely buttress the Republicans opposition to the relief plan. And could also concern some Democratic lawmakers who have supported the bill.

Earlier, Federal Reserve Chairman, Jerome Powell said the US economy still has a long way to go before the central bank considers tightening. He also stressed that the low-inflation world of the past several decades, is unlikely to change.

  • US economy will need support for ‘some time’- Powell

Yellen unveils $9bn to help low-income communities in US 2051

In another development, US Treasury Secretary, Janet Yellen has unveiled a new $9 billion initiative for lenders serving low-income communities.

This represents the expansion of the government’s assistance to small and minority-owned businesses affected by the pandemic.

yellen
US Treasury Secretary, Janet Yellen

The funds will be administered through the Emergency Capital Investment Program. And has set aside $2 billion for participants with less than $500 million in assets. Also, the fund will reserve another $2 billion for those with less than $2 billion in assets. The program will support loans, grants and forbearance.

The move is part of the Biden administration’s effort to decrease racial inequality and help underserved communities. And it is financed by the spending bill passed by Congress in December.

In a statement, Yellen said the new program will support “financial-services deserts”. She explained it as “places where it’s very difficult for people to get their hands on capital so they can”.

A Federal Reserve survey of minority-owned US small businesses in February reported much weaker financial conditions than the average. The survey found that 88% of the firms surveyed with fewer than 500 employees, still have sales below pre-pandemic levels.

Also, nearly one-third of those business said their chances of survival would be somewhat unlikely without further government relief. 

A Treasury Department official who briefed reporters revealed that lenders won’t have to pay dividends or interest to the Treasury for the first two years. This is to encourage low-cost capital for the most distressed businesses in underserved communities.  

Read Also: Yellen backs new allocation of IMF’s currency to aid recovery

Tags: Congressional Budget OfficeUS DebtUS Federal ReserveUS GDPUS Treasury Department
Please login to join discussion
Previous Post

Attack On Speaker Unwarranted- Mahama Ayariga

Next Post

THERE IS A LOT OF IGNORANCE IN OUR SPACE- REX OMAR SPEAKS ON SPLIT SHEETS

[mc4wp_form id="1264"]

Related Posts

Taylor Swift Announces New Album, ‘The Life of a Showgirl’
Entertainment

Taylor Swift Shows Endless Love for Bad Bunny

August 25, 2025
Galamsey Fight Demands Policy Beyond Law Enforcement
General News

Galamsey Fight Demands Policy Beyond Law Enforcement

August 25, 2025
Hezbollah Deputy Asserts Group’s Military Capability After Israeli Strikes
Asia

Hezbollah Leader Rejects Calls For Disarmament

August 25, 2025
Botswana Declares Health Emergency Amid Drug Shortages
Africa

Botswana Declares Health Emergency Amid Drug Shortages

August 25, 2025
Solar Energy Most Economically Viable for Nigeria’s Power Mix – REA Boss 
Extractives/Energy

Solar Energy Most Economically Viable for Nigeria’s Power Mix – REA Boss 

August 25, 2025
Okyeame Kwame Idolises David Dontoh for His Influence
Entertainment

Okyeame Kwame Admits Hunger Split Akyeame Group

August 25, 2025
Taylor Swift Announces New Album, ‘The Life of a Showgirl’
Entertainment

Taylor Swift Shows Endless Love for Bad Bunny

by Esther Korantemaa OffeiAugust 25, 2025
Galamsey Fight Demands Policy Beyond Law Enforcement
General News

Galamsey Fight Demands Policy Beyond Law Enforcement

by Silas Kafui AssemAugust 25, 2025
Hezbollah Deputy Asserts Group’s Military Capability After Israeli Strikes
Asia

Hezbollah Leader Rejects Calls For Disarmament

by Comfort AmpomaaAugust 25, 2025
Botswana Declares Health Emergency Amid Drug Shortages
Africa

Botswana Declares Health Emergency Amid Drug Shortages

by Lawrence AnkutseAugust 25, 2025
Solar Energy Most Economically Viable for Nigeria’s Power Mix – REA Boss 
Extractives/Energy

Solar Energy Most Economically Viable for Nigeria’s Power Mix – REA Boss 

by Prince AgyapongAugust 25, 2025
Okyeame Kwame Idolises David Dontoh for His Influence
Entertainment

Okyeame Kwame Admits Hunger Split Akyeame Group

by Esther Korantemaa OffeiAugust 25, 2025
Taylor Swift Announces New Album, ‘The Life of a Showgirl’
Galamsey Fight Demands Policy Beyond Law Enforcement
Hezbollah Deputy Asserts Group’s Military Capability After Israeli Strikes
Botswana Declares Health Emergency Amid Drug Shortages
Solar Energy Most Economically Viable for Nigeria’s Power Mix – REA Boss 
Okyeame Kwame Idolises David Dontoh for His Influence
[/vc_row_inner]

Recent News

  • Taylor Swift Shows Endless Love for Bad Bunny
  • Galamsey Fight Demands Policy Beyond Law Enforcement
  • Hezbollah Leader Rejects Calls For Disarmament
  • Botswana Declares Health Emergency Amid Drug Shortages
  • Solar Energy Most Economically Viable for Nigeria’s Power Mix – REA Boss 
The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.