US Risks Debt Crisis As Interest Costs Become Unsustainable, CBO Warns

• The Congressional Budget Office warns the US risks a bond market crisis like the UK experienced in 2022 • CBO director says US debt trajectory is "unprecedented" and interest costs are becoming unsustainable • If rates spike, it could "snap back" on the US like it did on the UK, sparking instability • UK bond yields soared after market rejected debt-funded tax cuts under former PM Liz Truss • Rising US debt and interest costs are slowing growth and constraining policy choices