Interest Payments on the Ballooning Federal Debt vs. Tax Receipts & GDP: Not as Bad as in 1982-1997, but Getting There
by Wolf Richter, Wolf Street: Our drunken sailors in Congress better head to the detox. The magnificently ballooning US government debt is rapidly approaching $34 trillion (now at $33.84 trillion), up from $33 trillion in mid-September, and up from $32 trillion in mid-June, amid a tsunami of issuance of Treasury securities to fund the stunning government deficits. But inflation […]
