3 ms·
Tax revenue is a tiny fraction of GDP, so the national debt is already many multiples over income. The current $1 trillion annual interest payments on the debt
by peepeepoopoo5 3y ago
Tax revenue is a tiny fraction of GDP, so the national debt is already many multiples over income. The current $1 trillion annual interest payments on the debt are larger than the entire defense budget. Worse, annualized interest payments are still going up by about $200B per quarter.