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.
Interest on U.S. debt to hit $1.14 trillion, consuming 76% of income taxes this year.
| Source: | https://citizenwatchreport.com/interest-on-u-s-debt-to-hit-1-14-trillion-consuming-76-of-income-taxes-this-year/ |
| Published: | Jul 23, 2024 |
| Author: | Horse |
| Post Date: | 2024-07-23 18:15:02 by Horse |
| Views: | 36 |