Between tax cuts and new spending, the U.S. government's total debt load is set to balloon from just under 80 percent of the economy right now to just under 100 percent in a decade. Meanwhile, as the economy recovers, the Fed is gradually raising interest rates. The combined result? The federal government paid $263 billion in interest in 2017, but that will swell to $915 billion in 2028.
Similar Stories to America Is Going To Pay A Lot Of Interest Soon. But Don't Fear A Debt Crisis. on Bing News
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Mon, 10/01/2018 - 2:55am
Topics: medicaid jeffrey frankel harvard the u.s new york federal reserve chairman beardsley ruml federal reserve department frankel u.s fed new york times federal reserve america pay interest debt crisis government treasury economy percent dollars money bonds spend foreign spending inflation wealth governments priorities recession bond owned save budget billion wealthy literally personal majority portfolios national inequality problem vast burden sounds raising rates people crowd increases utterly state taxes local additional risk recessions cash room pretty funds lead held tax
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