Insane, irresponsible, and reckless! Simply unsustainable!
"Sustaining the U.S. national debt has become very expensive thanks to rising interest rates. The annual cost of paying the gross interest on the national debt now exceeds one trillion dollars. That cost has almost doubled during the last three years.
This cost was confirmed in the Bureau of Economic Analysis’s (BEA) initial GDP estimate for the fourth quarter of 2023. The chart below illustrates how the amount of interest the U.S. government pays on its total public debt outstanding has grown in each quarter since the first quarter of 1949. ..."
Total Interest on U.S. National Debt Now Exceeds $1 Trillion a Year (The Beacon, Independent Institute)
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