Interest on the $38.8 trillion national debt has tripled since 2020, and it already costs taxpayers more than defense and Medicaid

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The consequences extend beyond accounting. As interest costs swell, they crowd out virtually every other national priority. The CRFB projects that rising interest costs will account for 28% of all nominal spending growth over the next decade and 120% of all spending growth as a share of GDP, meaning other programs will effectively shrink in relative terms just to make room.​

Article InformationAuthor, 戈登·科雷拉(Gordon Corera)

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