: CBO: Keeping U.S. long-term debt stable would mean hundreds of billions in tax hikes or deficit reduction

Congress’s nonpartisan number crunchers said Monday that the government would have to make major cutbacks in spending or raise taxes sharply — to the tune of hundreds of billions of dollars — to keep already-high debt levels from growing further.

Congress’s nonpartisan number crunchers said Monday that the government would have to make major cutbacks in spending or raise taxes sharply — to the tune of hundreds of billions of dollars — to keep already-high debt levels from growing further.