The Government Is Set To Spend More On Debt Payments Than The Entire Defense Budget

Source: http://www.stationgossip.com/2022/11/the-government-is-set-to-spend-more-on.html
Published: Nov 1, 2022
Author: Staff
Post Date: 2022-11-01 18:01:27 by Horse
Views: 53

Interest on federal debt is set to skyrocket, potentially surpassing defense spending by as early as 2025, CNN reported Tuesday.

Poster Comment:

Last year the US paid $706 billion on interest, $859 billion for DOD this year. Length of average US debt instrument is 5 years so 40% will be renews in 2 years, 60% in 3 years.

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