Re:U.S. Debt Interest Payments Reach $1T
by Clubber on Tuesday April 23, 2024 @02:06PM
(#40135072)
It used to be calculated as total debt as a percentage of GDP (as opposed to interest payments) and there were concerns it shouldn't go above 100%, otherwise we'd get stagflation like Japan. Now the new goalpost is interest payments as a percentage of GDP.
I think this is the first year in history that the interest payment was greater than the amount we spend on defense and we have exceeded WWII spending as a percentage of GDP in 2020 and on.
https://fred.stlouisfed.org/series/GFDGDPA188S
I think this is the first year in history that the interest payment was greater than the amount we spend on defense and we have exceeded WWII spending as a percentage of GDP in 2020 and on.
https://www.cbsnews.com/news/federal-debt-interest-payments-...
Of course more government spending is a cause of inflation too, which hasn't been very comfortable lately.
https://smartasset.com/financial-advisor/how-increased-gover...
It might be alarmist, it might not, we don't really know where the point of collapse is in regard to debt; we're in unprecedented territory.