The US will be 'drowning in debt' over the next 30 years as interest costs rise

• The government could be drowning debt over the next few decades, Renaissance Macro said in a recent research report.
• The debt-to-GDP ratio could nearly double to 181% by 2053, per Congressional Budget Office projections.
• "Rising debt + rising interest costs – debt servicing cost disaster," the research firm said.

The US government could be submerged in debt over the next few decades -- something that could lead to a disaster for markets and the economy, according to Renaissance Macro Research.