National Debt Interest Payments Will Reach $2 Trillion By 2036 Says CBO… We’re Screwed.
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In 2036, approximately 5% of America’s economy will go to paying the interest on the country’s national debt. Holy Jesus Christ. Surely, SURELY this is unsustainable, right? RIGHT?
Well, no, because the Congressional Budget Office, (CBO, owned by Warner Bros) says that no matter who is in power, year on year, borrowing has increased and is going to increase for the foreseeable future.
This is from Fortune (because I don’t understand these numbers and cba to translate): “In 2026, the shortfall will stand at about $1.8 trillion, or 5.8% of GDP. Come 2036, that will have ballooned to $3.1 trillion, or roughly 7% of the American economy.”
Like, didn’t you just say 5%? Ok, whatever, moving on…
These numbers are so big, they are double annual military spending, and at least triple what I pay for my weekly groceries.
Ok, I’m trying to read this article and my eyes are just glazing over. Like, I feel like you got the headline, right? You got the general vibe? I don’t need to say anymore, right? I mean, there are more numbers, I could give you more numbers, like five for example, there you go: five. There’s a number.
The bottom line is (yes, I just scrolled down to the final paragraph), things are going to cost more for everyday Americans and this will inevitably become a massive part of the next few elections when (god forbid) they come round.
So hang tight, bud!
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