The U.S. national debt is on pace to break a record set in the wake of World War II in four years, while annual budget deficits are projected to balloon to $3 trillion a year a decade from now, according to a new analysis by Congress's financial watchdog.The nonpartisan Congressional Budget Office (CBO) released a budget and economic outlook spanning the next decade, which projected that federal budget deficits will rise from an estimated $1.9 trillion in fiscal year 2026 to $3.1 trillion in 2036.Mounting budget deficits will push the national debt higher, with the gross federal debt rising fr...

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