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The US national debt could surge by $20 trillion over the next decade, the Bank of America (BoA) said in a note on Tuesday, citing data from the Congressional Budget Office.

According to the forecast, the current outstanding public debt amounts to roughly $33.6 trillion, but at the pace it is growing and due to “fiscal excess in the 2020s,” it is likely to grow by $5.2 billion daily for the next 10 years, which would put it at around $54 trillion by 2033.