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    Economy

    For the first time ever, the U.S. is spending more on interest payments ($1.22T) than on national defense ($1.17T). The cost of past debt now exceeds the cost of protecting the nation. The bill for decades of borrowing has come due.


    It’s a good thing for the oligarchy & the Boomer uniparty that younger generations are too docile, dumbed-down, and distracted by social media and iCrap to grasp the magnitude of their intergenerational shafting by our Parliament of Whores on Capitol Hill.

    https://i.redd.it/n4ziig65xbzg1.png

    Posted by Boo_Randy_Revival

    14 Comments

    2. furnace9monkey on

      And trump is responsible for 40% of the national debt. What a corrupt and incompetent POS

    7. daytradingguy on

      These interest payments are just like any other government spending. People who hold bonds – collect that interest and spend it into the economy.

      Not much different than EBT recipients spend at Walmart or other stores.

      Or defense spending is paid as soldiers salaries, paid to defense contractors who hire people and all those people spend their money into the economy.

      Social security checks – get spent on housing at grocery stores, etc. recycling it back into the economy.

      Medicaid is spent on doctors and nurses salaries and medical suppliers- again cycled back into the economy.

    8. anondasein on

      Correction, the bill for decades of low taxes has come due. There would have been no need to borrow if the rich didn’t decide they wouldn’t continue to contribute to society. The US Congress members like to pretend they are religious until asked to spend their money to help others.

    10. Special-Remove-3294 on

      Well they can start by no longer wasting 1.17 trillion on imperialism first. You can easily sade 1+ trillion USD there.

      Then some more trillions could be saved by no longer tolerating the bourgeoisie robber barrons thieving from the healthcare system resulting in the highest per capita spending in the world without being anywhere near 1 in healthcare outcomes.

      Those simple measures would probably put America into a budget surplus

    12. thinkB4WeSpeak on

      Two terms of ignorance will get you this. Dudes going to go down as the worst president

    14. LegoRedBrick on

      Hence why rates should be cut. Interest rates are too high. We’re penalizing ourselves by keeping them elevated out of fear meme stocks will go back up. Job market is already soft. Dumb not to move rates lower before some type of recession occurs.

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