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Title: Interest on U.S. debt to hit $1.14 trillion, consuming 76% of income taxes this year.
Source: [None]
URL Source: https://citizenwatchreport.com/inte ... -76-of-income-taxes-this-year/
Published: Jul 23, 2024
Author: Horse
Post Date: 2024-07-23 18:15:02 by Horse
Keywords: None
Views: 15

According to a recent report, interest payments on the U.S. national debt are projected to reach $1.14 trillion this year, which would consume approximately 76% of all personal income taxes collected. This significant increase in interest payments is attributed to rising interest rates and the growing national debt.

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