Author Topic: Debt spending to surpass defense spending … this year  (Read 270 times)

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Offline Hoodat

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Debt spending to surpass defense spending … this year
« on: February 25, 2024, 11:02:14 pm »
Debt spending to surpass defense spending … this year

Eric Utter  |  February 25, 2024

The Congressional Budget Office (CBO) now estimates that, this year, 2024, the U.S. federal government will spend more on interest on the national debt than on national defense. Or Medicare.

You read that correctly.

The CBO says that the federal government will spend $850 billion on defense, as opposed to $870 billion on debt interest. Moreover, interest payments on the national debt are the fastest-growing part of the preposterously bloated yet still fast-growing federal budget … and are projected to reach a mind-blowing $5.4 trillion by 2053.

So, effectively, taxpayers are going to have their hard-earned money confiscated to pay $870 billion for nothing.

Less than nothing, actually.  .  .

This isn't even the worst of it.  This year, our government will borrow more money than those two totals combined, adding even more to the debt, and piling on even more interest in future years.  $2 trillion at 5%?  That comes to $100 billion in annual interest payments.
If a political party does not have its foundation in the determination to advance a cause that is right and that is moral, then it is not a political party; it is merely a conspiracy to seize power.

-Dwight Eisenhower-

"The [U.S.] Constitution is a limitation on the government, not on private individuals ... it does not prescribe the conduct of private individuals, only the conduct of the government ... it is not a charter for government power, but a charter of the citizen's protection against the government."

-Ayn Rand-

Offline bigheadfred

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Re: Debt spending to surpass defense spending … this year
« Reply #1 on: February 25, 2024, 11:08:37 pm »
She asked me name my foe then. I said the need within some men to fight and kill their brothers without thought of Love or God. Ken Hensley

Online libertybele

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Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.