Re: Currently about 25% of nations tax revenue goes to pay just the interest on our national debt.
I pulled up the Treasury Monthly Statement for the first five months of FY 2020.
https://fiscal.treasury.gov/files/reports-statements/mts/mts0220.pdf
Total Receipts - $1.36 trillion
Net Interest - $162 billion
That’s about 12%.
It would be close to 25% if you exclude Social Security and Medicare taxes - but, I’m not sure why you would want to do that.
Anyway, your 25% sounded off to me, so I checked to see.
Also, the five month deficit is so bad - $625 billion - I can’t bear to even think about it.
With the Great COVID-19 Depression on our doorstep, we are probably on track for a $3 trillion deficit in calendar 2020.
Around 2025, we will hit peak expenditure for Social Security and Medicare for close to ten years.
Total insanity!
Yes, I think in my calculation, it’s not just the taxes, it’s entitlement programs too.