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Great points but imagine how much their eyes will pop once the budgets or spending reports come out and congress finds out how much they’re spending on interest
by webinvest 4y ago
Great points but imagine how much their eyes will pop once the budgets or spending reports come out and congress finds out how much they’re spending on interest payments on their debt.
I’ll do the math for you: 4%/yr of 31T means they’ll be paying 1.24T in interest expenses per year. Of the 4.9T in tax revenue, 1.24T of it or 25% of it is burned on interest payments on the national debt.[1]
Source: usdebtclock.org
- credit_guy 4y agoBut balancing the budget is not the Fed’s job, is it?