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I think the idea is the interest on the debt will approach our ability to pay soon. That would be like your mortgage payment being toward interest only, and you
by queuebert 2y ago
I think the idea is the interest on the debt will approach our ability to pay soon. That would be like your mortgage payment being toward interest only, and you were barely able to make it.
- ceejayoz 2y agoWe pay something like 3% interest: https://en.wikipedia.org/wiki/National_debt_of_the_United_States#/media/File:Average_Interest_Rate_on_U.S._Federal_Debt.webp https://en.wikipedia.org/wiki/National_debt_of_the_United_St... Mostly to ourselves: https://en.wikipedia.org/wiki/National_debt_of_the_United_States#/media/File:Federal_Government_debt_holders.webp https://en.wikipedia.org/wiki/National_debt_of_the_United_St... ... and we're paying less in interest on a percentage-of-revenue standpoint (blue line) than almost any other point in history: https://en.wikipedia.org/wiki/National_debt_of_the_United_States#/media/File:Federal_interest_payments.webp https://en.wikipedia.org/wiki/National_debt_of_the_United_St... ... and if it's truly a concern, picking the guy who ran the worst deficits in history is a... choice. https://en.wikipedia.org/wiki/National_debt_of_the_United_States#/media/File:Federal_Government_deficits.webp https://en.wikipedia.org/wiki/National_debt_of_the_United_St...
- queuebert 2y agoDebt to revenue leaves out a whole other independent variable, which is other expenses, many of which are set by law. Debt as % of GDP is probably more relevant: https://en.wikipedia.org/wiki/National_debt_of_the_United_States#/media/File:US_Federal_Debt_Held_By_Public_as_of_Feb._2023.png https://en.wikipedia.org/wiki/National_debt_of_the_United_St...