Prediction: “Annual Interest payments alone, threaten to eat us alive.”
interest is by far the fastest growing part of the budget.
In our latest nonpartisan analysis, we found that interest payments will quadruple, topping $1 trillion per year in as little as a decade. That’s more than we will spend each year on the military or Medicaid, and as a share of the economy, it is the highest in history.
We keep this up, lenders will demand higher rates for our riskier bonds. That could trigger a debt crisis, hyperinflation, and a recession/depression.
History is littered with economic collapses. We have the power not to become one of them, but our current leaders and political parties are not fit for the task.