US federal debt to be larger than the size of economy in 2021: CBO

Photo taken on Sept. 2, 2020 shows the U.S. Federal Reserve headquarters in Washington, D.C., the United States. Driven by the massive fiscal response to the COVID-19 pandemic, U.S. federal debt is projected to exceed the size of the economy for the fiscal year 2021, the highest level since World War II, the Congressional Budget Office (CBO) said Wednesday. (Photo by Ting Shen/Xinhua)

Photo taken on Sept. 2, 2020 shows the U.S. Capitol Building in Washington, D.C., the United States. Driven by the massive fiscal response to the COVID-19 pandemic, U.S. federal debt is projected to exceed the size of the economy for the fiscal year 2021, the highest level since World War II, the Congressional Budget Office (CBO) said Wednesday. (Photo by Ting Shen/Xinhua)

Photo taken on Sept. 2, 2020 shows the U.S. Capitol Building in Washington, D.C., the United States. Driven by the massive fiscal response to the COVID-19 pandemic, U.S. federal debt is projected to exceed the size of the economy for the fiscal year 2021, the highest level since World War II, the Congressional Budget Office (CBO) said Wednesday. (Photo by Ting Shen/Xinhua)

Photo taken on Sept. 2, 2020 shows the U.S. Federal Reserve headquarters in Washington, D.C., the United States. Driven by the massive fiscal response to the COVID-19 pandemic, U.S. federal debt is projected to exceed the size of the economy for the fiscal year 2021, the highest level since World War II, the Congressional Budget Office (CBO) said Wednesday. (Photo by Ting Shen/Xinhua)

Photo taken on Sept. 2, 2020 shows the U.S. Capitol Building in Washington, D.C., the United States. Driven by the massive fiscal response to the COVID-19 pandemic, U.S. federal debt is projected to exceed the size of the economy for the fiscal year 2021, the highest level since World War II, the Congressional Budget Office (CBO) said Wednesday. (Photo by Ting Shen/Xinhua)