Billionaire warns interest on debt topping defense spending a sign 'the country is in trouble'
Story by Eric Revell • 12h
David Rubenstein, the billionaire co-founder of the Carlyle Group, warned that the cost of servicing the federal government's massive debt amid growing budget deficits is pushing the U.S. towards financial trouble.
During an appearance on FOX Business Network's "Cavuto: Coast to Coast" on Tuesday, host Neil Cavuto said that the more than $35 trillion national debt and swelling budget deficits aren't an issue at the front of voters' minds and whether it's "like a grenade that you're taking the cap off."
"It's not, until it is," Rubenstein said of the debt being a problem. "In other words, at some point, people in Congress will say we've got to deal with the debt. And when they finally recognize it's a big problem and a kind of calamity comes about, then people will feel more interested in it."
"Right now, people are more interested in other things, inflation or jobs, but not the debt. But the debt is something that historically, when you're paying more in interest on your debt than your defense budget, the country is in trouble," he added.
https://www.msn.com/en-us/money/markets/billionaire-warns-interest-on-debt-topping-defense-spending-a-sign-the-country-is-in-trouble/ar-AA1r8P1I?ocid=msedgdhp&pc=HCTS&cvid=b590532243194027904fc664a1f849ce&ei=119
