SPECIAL REPORT:  

PCA’s Market Intelligence Group has looked into how the debt crisis and how it has affected the consumption of cement. 

Federal, state, and municipal governments borrow to fund expenditures in the wake of revenue shortfalls, called deficit financing. The level of deficit financing has accelerated in recent years. The federal deficit accounted for 3.7% of GDP in 2022 and is expected by the Congressional Budget Office to rise further. Total accumulated federal debt reached 123% of GDP and is expected to rise further. Currently, interest payments on the nation’s debt account for roughly $400 billion annually, or 6.8% of total federal outlays1. As deficits and interest rates rise, this share will increase. Servicing the debt, crowds out important other spending initiatives by the Federal government.

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