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In short, CBO projects that in 2029 the US debt, as a percentage of GDP, will exceed its previous high (from WWII), and will sour to 166% of GDP in 2054, and continue to increase thereafter. Interest outlays to service debt is projected to exceed all discretionary outlays by 2044, and to exceed all spending on Social Security by 2051.
Management said on the conference call with analysts that acquisitions were responsible for 1 percentage point of that growth. In one example, he said the company had extended its global agreement with Citigroup for an additional five years to 2029, and will remain the bank’s exclusive partner for Citi branded credit and debit business.
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