I was interviewed by James Rosen at Fox News on the exploding US debt and whether it is a problem. I said “Yes, the sheer size of the US debt load in unsustainable and will get worse if interest rates rise.” Well, here we are!
The US paid $853 billion in interest for the $31 trillion in debt in 2022.
That is more than the US Defense budget in 2023.
If the Fed keeps rates at at these levels (or higher), the US we will be at $1.2 trillion to $1.5 trillion in interest paid on the debt.
The US govt collects about $4.9 trillion in taxes.
Thanks for this, Biden, Pelosi, Schumer! Aka, The Spend Squad!
6 thoughts on “US Paid $853 BILLION In Interest On Its $31 TRILLION Debt In 2022 (More Than The US Defense Budget)”
$853 billion seems high. Do you have a decent source?
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