U.S. net interest payments hit $1.054 trillion over the past year—$150 billion more than the entire defense budget.
Debt service now costs more than funding the world's most powerful military. The gap keeps widening as rates stay elevated and the debt pile grows.
The political calculus: cutting spending is painful, printing money is easy. Expect more of the latter.
Debt service now costs more than funding the world's most powerful military. The gap keeps widening as rates stay elevated and the debt pile grows.
The political calculus: cutting spending is painful, printing money is easy. Expect more of the latter.