Over the next 10 years, interest costs are projected to hit $10.6 trillion.
Over the next 30 years, the CBO projects interest to total $71 trillion.
Interest expense is expected to surpass defense spending in 2029, Medicare in 2046, and Social Security in 2051.
5/8 pic.twitter.com/Ssx9QlQoXy
— The Kobeissi Letter (@KobeissiLetter) July 30, 2023
Update:
This chart is wrong, its showing the US will pay 600 Billion this year just towards interest. As of the beginning of July the US paid $652 billion towards interest so far this year. In actuality we will surpass $1.1 Trillion just towards interest by the end of 2023. We will surpass defense spending by the end of this year and that is not including Congress spending more on whatever.
h/t OkResponsibility7642
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