CBO Director Phillip Swagel Optimistic About Avoiding National Debt Crisis
Phillip Swagel, the Director of the Congressional Budget Office (CBO), has expressed optimism about the U.S. avoiding a national debt crisis, despite the CBO's typically grim outlook on national debt. The CBO, a nonpartisan agency, provides independent budgetary and economic analysis to Congress. Currently, the U.S. public debt exceeds $39 trillion, with interest payments surpassing $1 trillion annually. Swagel's optimism is rooted in his experience during past economic crises, such as the 2008 financial crisis and the COVID-19 pandemic, where the U.S. economy managed to recover. He believes that policymakers are capable of setting the U.S. on a sustainable fiscal path when necessary. 
