Sunday, November 29, 2020

Tag: US Government Will Soon Spend More on Interest Than on the Military

US Government Will Soon Spend More on Interest Than on the Military

by Jason Ditz, The Anti Media:

The US spends far more on its military than any other nation on Earth, but very soon, it will not be the top expenditure of the US government. Rather, rising interest rates and years of mounting debts mean that soon, interest on the debt will overtake that.

Interest costs will be $390 billion next year, and more than $900 billion within a decade, according to the Congressional Budget Office. At present, US military budgets are in the $700 billion range, and themselves constantly growing.