American Debt Bomb
The future is calling - Lose Yourself. Yo.
“How did you go bankrupt?"
Two ways. Gradually, then suddenly.”
―Ernest Hemingway - The Sun Also Rises (1926)
From the Committee for a Responsible Federal Budget:
Interest on the debt is the fastest growing part of the budget. Net interest payments will exceed both defense and Medicare spending this year, in Fiscal Year (FY) 2024, according to new projections from the Congressional Budget Office (CBO). That will make interest the second largest government expenditure.
Net interest has been exploding over the past few years, with payments rising from $223 billion in 2015 to $352 billion in 2021 before nearly doubling to $659 billion in 2023. In 2024, CBO projects net interest will total $870 billion, a near-record 3.1 percent of Gross Domestic Product (GDP).
From the Fork Union Military Academy admissions interview (2005?) of our 15 yr old nephew :
“Young man, place your right hand on your right ear and your left hand on your left ear.”
The young man does as instructed replying, “Okay. Now what?
“Now pull your head out of your ass.”