This is the bigger picture that’s not going away no matter how much you ignore it
The US debt crisis is accelerating:
US debt interest payments as a % of federal revenue are expected to surge to a record 23% by 2035, according to CBO estimates.
This would more than DOUBLE the average seen between 2002 and 2022.
Interest payments as a % of revenue have already risen +10 percentage points over the last 4 years, to 19%, near an all-time high.
In other words, for every $5 the government collects in taxes, $1 goes to pay interest on federal debt.
Interest costs on public debt are up to a record $1.2 trillion over the last 12 months.
What is the long-term plan here?
The US debt crisis is accelerating:
US debt interest payments as a % of federal revenue are expected to surge to a record 23% by 2035, according to CBO estimates.
This would more than DOUBLE the average seen between 2002 and 2022.
Interest payments as a % of revenue have already risen +10 percentage points over the last 4 years, to 19%, near an all-time high.
In other words, for every $5 the government collects in taxes, $1 goes to pay interest on federal debt.
Interest costs on public debt are up to a record $1.2 trillion over the last 12 months.
What is the long-term plan here?
