Mitt Romney, President Obama campaigns offer conflicting interpretations of CBO debt report
A new report by the Congressional Budget Office places the national debt at a crossroads. Down one path, the debt steadily decreases as a percentage of the gross domestic product, from 73 percent today to 53 percent in a quarter century. Down the other, it balloons to 199 percent of GDP by 2037. Mitt Romney’s campaign quickly claimed the report as evidence that “President Obama has placed us on a path to fiscal ruin,” but the report says otherwise.