"In 2019, we paid about $577 billion in interest on the debt, a record high. That quickly ballooned into a $1.18 trillion bill in 2025. That's $261 billion more than the U.S. spent on defense last year."
"The national debt is opaque and complex and some spooky ghost haunting an unknown future, but the interest payments we make on it every year are very real, and they're called the bond market."
Interest payments on the national debt have increased dramatically, rising from $301 billion in 2002 to a projected $1.18 trillion by 2025. This surge in payments is now greater than the U.S. defense spending. The complexity of the national debt obscures its implications, but the reality of interest payments is clear, as they divert funds from the budget to investors, including foreign governments and domestic funds. The situation has evolved from manageable to critical, highlighting the need for serious consideration of fiscal policies.
Read at Jezebel
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