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Keyword: interestondebt

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  • Interest on US National Debt Hits New Record

    06/06/2024 6:47:53 AM PDT · by delta7 · 19 replies
    Armstrong Economics ^ | 6 June 24 | Martin Armstrong
    Government spending has consequences. The US national debt has surpassed $34.6 trillion at the time of this writing and continues to grow every minute. America has never been in a deeper deficit. The Committee for a Responsible Federal Budget (CRFB) has reported that America was forced to pay $514 billion in the first seven months of FY2024 on interest costs alone. This means that America paid more in servicing its debt than on any other program besides Social Security ($837 billion), which is a separate problem entirely. To put it into perspective, the US shelled out $498 billion on national...