$56 trillion national debt leading to a spiraling crisis: Budget watchdog warns the U.S. is walking a crumbling path

The United States is rapidly accelerating toward a definitive tipping point in its financial history, the Committee for a Responsible Federal Budget (CRFB) wrote in response to the latest 10-year outlook from the Congressional Budget Office. The nonpartisan budget watchdog issued a stark assessment: The current trajectory of borrowing, which is running at double the 50-year historical average, is simply mathematically unsustainable.

The CRFB cautioned that without immediate legislative intervention...