The Debt-GDP Ratio Could Reach 134% by 2035

Projected U.S. federal debt as a percentage of gross domestic product (GDP)

Line chart of projected U.S. federal debt as a percentage of gross domestic product (GDP) from the Committee for a Responsible Federal Budget where high estimates are 134% in 2035.

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Note: CRFB August 2025 Alternative Scenario assumes a permanent One Big Beautiful Bill Act, tariff revenues only from legal tariffs, and long-term interest rates remaining around current levels.

Source: Committee for a Responsible Federal Budget (CRFB)