Author Topic: U.S. government spending on the interest costs of rising federal debt will soon force lawmakers to c  (Read 1192 times)

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Offline LMAO

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https://www.newsweek.com/defense-debt-us-spending-trump-medicaid-treasury-federal-health-care-interest-1210907?utm_campaign=NewsweekTwitter&utm_medium=Social&utm_source=Twitter

“Interest costs on the 2017 federal debt of $263 billion accounted for 6.6 percent of all U.S. government spending and a 1.4 percent share of the country's GDP. But the Congressional Budget Office predicts interest spending will spike to $915 billion by 2028, or about 3.1 percent of the gross domestic product. Guided by Congress' federal spending boost of $300 billion earlier this year and the Trump administration's individual income tax cuts, a divided Congress will soon be forced to spend more on interest than Medicaid, national defense and a host of other government programs.”

« Last Edit: November 13, 2018, 07:58:11 pm by LMAO »
I have little interest in streamlining government or in making it more efficient, for I mean to reduce its size. I do not undertake to promote welfare, for I propose to extend freedom. My aim is not to pass laws, but to repeal them.

Barry Goldwater

http://www.usdebtclock.org

My Avatar is my adult autistic son Tommy

Online Free Vulcan

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How many years have I been trumpeting this here?

Bodda-boom-bodda-bing, time brings all things full circle, and here we are.

So it begins.
The Republic is lost.

Offline LMAO

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The only positive is this ends the spending desires of the Sanders/Ocasio-Cortez

We won’t be able to “just pay for it”
I have little interest in streamlining government or in making it more efficient, for I mean to reduce its size. I do not undertake to promote welfare, for I propose to extend freedom. My aim is not to pass laws, but to repeal them.

Barry Goldwater

http://www.usdebtclock.org

My Avatar is my adult autistic son Tommy

Online GtHawk

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The only positive is this ends the spending desires of the Sanders/Ocasio-Cortez

We won’t be able to “just pay for it”
No it won't, they'll just tell the voters they are buying with the 'freebies' that they'll "get someone else to, just pay for it". And they'll get away with it because the leeches always believe that someone else will pay for it as long as they vote the democrats in.

Offline IsailedawayfromFR

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Interest has been higher as a % of GDP, although short term it is really going up.



https://www.usgovernmentdebt.us/debt_deficit_history
No punishment, in my opinion, is too great, for the man who can build his greatness upon his country's ruin~  George Washington