kyzr
Diamond Member
We pay $1.1T every year, and climbing for interest on that Debt.The debt is inconsequential. It has been for many years.
US revenue is only about $5T a year, so 20% of that revenue is eaten up by interest.
That means that Social Security, Medicare, Defense, and other budget items need to be cut, so that is VERY consequential.
If we just borrow more, the dollar collapses, which is a total disaster.