America's interest payments are about to skyrocket

[Yo_Mama_Been_Loggin]

The Fed's interest rate hikes are doing more than hitting consumers in the credit cards. They're also making it much more expensive for the U.S. to carry its debt load.

While they're not currently a subject of President Trump's Twitter outrage, America's interest payments have become a point of concern for some on Wall Street. Those payments are projected to triple to more than $600 billion by 2023, reflecting rising interest rates as well as the exploding deficit. That figure approaches the amount the U.S. spends on national defense every year, and dwarfs what it spends on agriculture, Medicaid, income security and veterans' programs, to name just a few.



"Rarely have deficits risen when the economy is booming. And never in modern U.S. history have deficits been so high outside of a war or recession (or their aftermath)," the Committee for a Responsible Federal Budget wrote in a recent blog post.

In the first full year of Donald Trump's presidency, the federal deficit rose to its highest level in six years. Next year, it's projected to rise even higher.

https://www.msn.com/en-us/money/markets/americas-interest-payments-are-about-to-skyrocket/ar-BBRs0K4?li=BBnbfcN

Come on now. There are billionaires who need tax cuts.

[empedocles]

1. At some point. Net easily predictable, especially if deflation becomes more apparent.

[roamer65]

2. Inflation.

That’s how governments get rid of large debts.

That’s why 100 of today’s dollars are only worth 13 dollars in 1965 standards.

[Volaris]

3. There are also Republicans who need to tell us how horrible the economy is

When Democrats are in power. They need to tell us how deficits are BAD (now), and how we have to destroy the social saftey net in order to Be Responsible.

They will also tell us how all of this will be fixed if only the people who write them their campaign checks didn't have to pay all those dirty, ebil, illegal theft-taxes.

I say the budget the next House passes should jack up the top and corporate tax rates to about 50%, and the money recovered will be used to pay down THE PRINCIPAL that's generating all that interest, and the Randian idiots can all go fuck themselves for calling for the opposite of fiscal responsibility.

[Hermit-The-Prog]

4. part of the Repug plan to kill the Federal government

They've been running this scheme for over 40 years.

[Just a Weirdo]

5. I want all new debts tied to Trumps and their cronies assets.

So we can seize them to pay down the debt.