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The Washington Examiner: Interest Payments on the National Debt Are Exploding

April 19, 2024
Dollar Crash, Buy Gold, Buy Silver

Article by Jon Miltimore in The Washington Examiner

A new Bank of America analysis shows that interest payments on the national debt are set to explode in 2024 — rising much faster than the $870 billion annual increase that the Congressional Budget Office recently projected.

Even assuming the CBO’s more conservative projection, the picture is grim.

Analysts at the Peter G. Peterson Foundation estimate that the government will spend $12.4 trillion over the next decade just to service its debt. Financial analysts are flagging these surging interest payments, as well as the eye-popping amount of global debt.

“U.S. government spending rose by $162 billion in the last year just to cover interest on the nation’s debt,” Lauren Sanfilippo, an investment strategist for Merrill Lynch and Bank of America, observed in a video analyzing global debt, which stands at a record ......

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