CBO: Surging National Debt Risks Economic Crisis by 2030 Unless Government Acts

National debt projected to hit $141 trillion by 2054, equivalent to 166% of GDP, according to Congressional Budget Office report
Growing debt poses risks of slowing economic growth, spiking interest rates, eroding confidence in US dollar
If unchecked, debt could trigger fiscal crisis, recession, higher inflation by 2025-2030
Fiscal adjustment of $400 billion over 2-3 years could prevent crisis, says Wharton economist
Younger generations have stake in ensuring spending promises are worth higher taxes they'll pay