If this continues, America goes de facto bankrupt and all tax revenue will go to paying interest on the national debt with nothing left for anything else.
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Wall Street Mav
@WallStreetMav
How did we arrive at a point in this country where 25% of all tax revenue goes to just paying the interest in $37 trillion in govt debt?
Annually:
US govt total reveneue = about $5 trillion
US govt interest on debt = about $1.2 trillion
US govt spending = about $7 trillion
