[vc_row full_width=”stretch_row” css=”.vc_custom_1531732107238{background-color: #fcc118 !important;}”][vc_column]

[/vc_column][/vc_row][vc_row css=”.vc_custom_1531730959461{border-bottom-width: 1px !important;background-color: #f9fafb !important;border-bottom-color: #eef3f7 !important;border-bottom-style: solid !important;}”][vc_column css=”.vc_custom_1531891416301{margin-bottom: 0px !important;}”][bsfp-cryptocurrency style=”widget-6″ align=”auto” columns=”2″ scheme=”light” coins=”top-x-coins” coins-count=”8″ coins-selected=”” currency=”USD” title=”Cryptocurrencies” show_title=”0″ icon=”” heading_color=”” heading_style=”default” bs-show-desktop=”1″ bs-show-tablet=”1″ bs-show-phone=”1″ css=”.vc_custom_1531730265600{margin-bottom: 0px !important;}” custom-css-class=”” custom-id=””][/vc_column][/vc_row]

Forty-year leap: US national debt nearing $1T in interest alone

0

Quick Take

The United States is experiencing a steep surge in interest payments, now reaching approximately $970 billion. According to financial analyst Joe Consorti, this constitutes an escalation of $41 billion within the second quarter alone.

The rapid growth rate implies that the U.S. interest payments will soon reach the daunting $1 trillion threshold, marking a pivotal point in the nation’s financial history.

Consorti further demonstrated that tax receipts persistently lag behind the country’s sovereign debt growth. Such a scenario necessitates the U.S. to overly depend on an unsustainable funding strategy — issuing more debt. This cyclic process leads to a situation where interest payments are increasingly financed by revenues derived from additional debt issuance, potentially worsening the country’s financial quagmire.

In a striking comparison to the state of affairs four decades ago, on this very day in 1980, the United States national debt was less than $1 trillion. This figure marked the total obligation of the U.S. government; the U.S. is now facing almost $1 trillion of interest expenses alone.

Debt Clock: (Source: usdebtclock.org)
Interest Expense: (Source: FRED)
Interest Expense: (Source: FRED)

The post Forty-year leap: US national debt nearing $1T in interest alone appeared first on CryptoSlate.

Leave A Reply

Your email address will not be published.