A stunning graph on U.S. debt in the near future

why tax and estate planning is important

Projections from the CBO on Federal Debt Projections to 2087

This is a stunning graph from the Congressional Budget Office that represents the US public debt as a percentage of GDP. The steady line at the bottom is the Extended Baseline Scenario, which is what the CBO must use assuming the rosiest projections.

However, the dashed line that goes completely off the chart around 2042, according to the CBO, “is more representative of the fiscal policies that are now (or have recently been) in effect than is the extended baseline scenario.”

Just remember as you delay your own planning on your estate or your taxes, the fox is guarding the henhouse in Washington, D.C. and if you haven’t already made your own plans, this graph shows that the government will likely make a plan for you.

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Hat tip to Legal Insurrection for the graphic.

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