Interest payments already consume 25% of all government revenue.
If the massive deficit spending continues, there will only be money for interest payments and nothing else! No social security, no medical, no defense … nothing.
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Wall Street Mav
@WallStreetMav
Our annual US budget deficit is going to be over $2 trillion per year going forward.
We pay over $100 billion per month in interest on the national debt. $1.2 trillion per year. That is about 25% of all government revenue going to pay interest on the debt.
