7.) Staggering Interest Payments

  • 2018-02-13
  • Source: TTN
  • by: TTN Staff
7.) Staggering Interest Payments

President Trump inherited over $20 Trillion in debt from President Obama through FY 2017; Obama added nearly half of that amount to the tab given to him by President Bush. The consequence is that America must pay 11.5 percent of the budget to service the debt, which comes to $50.6 Billion. If that number remained constant, it would mean over half a trillion dollars over the next decade. As interest rates rise, that will only crowd out more vital forms of federal spending as it increases.

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 Source: TTN

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