That’s pretty good data, but the Fed balance sheet is $6T and dropping since QT is ongoing.
So the $37T debt accrues interest only on $31T, since the $6T is refunded (hmmm not 100% sure of that, some of the $6T may be MBS rather than gov’t paper). Regardless, if it was all gov’t paper, $31T at 3.5ish% composite interest rate is still over $1T in interest.
And you watch. When the debt ceiling debacle arrives soon, we will be told to celebrate $100B in spending cuts OVER TEN YEARS in order to authorize either a ceiling suspension of X years or a ceiling increase of something like $5T.
During Covid M1 went up about $18 trillion. That’s how they financed it.
The inflation rate has been a fraud ever since Bill Clinto changed the COLA computation by allowing substitutions in 1993. I could be wrong on the date, but the change in methodology gave them the ability to manipulate it.
Dartmouth College studied the old and new methods in 2008, before Obama, and after 8 years of Clinton and 8 years of Bush. It showed that after 16 years, Social Security benefits would have been 80% higher under the old method.