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Another Biden ‘Achievement’: Interest
Payments Now Second Largest Federal Spending Category

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Posted By: RockyTCB, 7/15/2024 9:07:37 AM

If you want to know just how dire the federal government’s fiscal situation is, consider the fact that interest on the national debt for the first time now tops every other spending category but one, according to the latest monthly report from the Treasury. This “achievement” has been brought to you by President Joe Biden. According to the report, the federal government spent $682 billion in “net interest” payments so far this fiscal year (which ends Sept. 30). That’s more than all the money spent on “health” ($670 billion), national defense ($644 billion), and income security — which includes payments to the poor ($508 billion).

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Reply 1 - Posted by: crashnburn 7/15/2024 9:20:34 AM (No. 1757026)
Well, as FJBrandon’s puppeteer said “Joe f’s up every thing he touches “.
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Reply 2 - Posted by: jasonB 7/15/2024 10:10:20 AM (No. 1757080)
STOP it with this nonsense. I despise the job Biden is doing BUT, if you think this is just the last 3 1/2 years of insanely irresponsible spending you haven't been paying attention.
1 person likes this.

Reply 3 - Posted by: DVC 7/15/2024 10:35:42 AM (No. 1757111)
It has been predicted for decades that eventually ALL the money gathered each year in tax revenues will go to pay the interest on the national debt and NOTHING will be available for actual government spending. We really, critically need a constitutional amendment to require a balanced budget every year. And paying down the national debt to ZERO.
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Reply 4 - Posted by: mseegal 7/15/2024 1:48:02 PM (No. 1757331)
Until we have zero-based budgets, we'll never get a handle on the spending. Each year compounds for the next year, ad infinitum. Enough! If you were only paying the interest on your credit card bill, it would be disastrous! Strict budget discipline and start paying down the debt, or we're done.
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