And this interest on the debt is “NET INTEREST!”
Compare the total non-social security tax revenues to the outstanding debt for the country times a 10% interest rate.
Roughly $15 trillion X 10% = $1.5 trillion in interest vs $1.296 in Revenue !!! And that is “Interest vs Revenue”, not considering any other costs! We are gonners, especially under the current inflationary monetary policies.
(Per Wiki: During FY 2010, the federal government collected approximately $2.16 trillion in tax revenue and Social Security/Social Insurance taxes (40%) or $864 billion = net of $1.296 in Revenue)
Remember, Social Security is running a deficit and no longer is providing excess funds for the gov’t to borrow.
Now, try to sleep at night!