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U.S. Debt Projections Stable Until 2034, Despite BlackRock’s Warnings

Author: Content Editor
The Congressional Budget Office (CBO) has released a draft of the U.S. budget projections through 2034, countering concerns raised by BlackRock's CEO Larry Fink about rising government debt. The CBO data suggests that the debt levels may not be problematic until after 2034, as the report outlines various economic metrics, including GDP growth, debt ratios, and budget deficits. While the U.S. government debt is expected to grow substantially over the next decade, the economy is projected to expand, potentially mitigating concerns. By 2034, the U.S. economy is forecasted to have substantial growth, with GDP reaching $41.4 trillion. The report also states that interest payments on national debt will climb to $1.72 trillion by 2034. Alongside discussions about U.S. debt, BlackRock's spot Bitcoin ETF, IBIT, has become one of the fastest-growing funds on Wall Street, with investors pouring $26 billion into it within ten months. Ethereum spot ETFs have also gained attention, although at a slower pace, with $7.35 billion invested across all spot Ethereum ETFs. However, Bitwise CIO Matt Hougan remains optimistic about Ethereum's future prospects and believes that the expanding ecosystem driven by smart contract capabilities will eventually attract more institutional investment. DISCLAIMER: The article does not constitute financial advice and readers should exercise caution before taking any action related to the company.

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