The Congressional Budget Office said Wednesday that the end of pandemic-era spending, fast economic growth and higher tax revenues have caused the federal debt this year to be lower than forecast. But the non-partisan office also includes a warning in its 30-year outlook about how debt will soon spiral upward to new highs that could ultimately imperil the U.S. economy. The estimates show the complex politics beneath government finances.
Report: Federal debt lower in 2022; still poised to climb