EDITION: Wilkes County
FAQs PLACE A CLASSIFIED AD ADVERTISE YOUR BUSINESS
54 °
Partly Cloudy
Registered Users, Log In Here
U.S. interest payments on its debt are set to exceed defense spending.

freerangethinker

Posted 2:40 pm, 05/17/2024

Federal spending on interest payments is forecast to hit $870 billion this year - exceeding the $822 billion that the nation will spend on defense in 2024, according to a recent analysis by the Congressional Budget Office. This year's outlay for interest payments represents a 32% increase from last year's $659 billion in interest expense.

To be sure, higher interest rates aren't the only factor raising the cost of servicing the country's debt. Over the last decade, the U.S. has almost doubled its outstanding debt, which surged to $33 trillion last year from $17 trillion in 2014, according to Treasury data.

I'm sure it will be fine.

Adams Funeral Home of Wilkes
Offering funeral and cremation services. Serving Wilkes, Alexander and surrounding counties. Contact us today about pre-planning arrangements.
Project Lazarus - BE THERE
For those struggling with substance use disorder, being there is everything.
Click to learn more
503 C St. N. Wilkesboro
336.818.1660
Invest commission-free & no account minimums!
We're all about helping you get more from your money. Let's get started today. Trade stocks, bonds, options, ETFs, and mutual funds, all in one easy-to-manage account.