$870,000,000,000 in Interest Will Be Spent on US National Debt This Year, Exceeding Defense Spending for First Time Since 1940: Report

The US government is expected to shell out nearly a trillion dollars this year just to cover the interest on its record-level debt. The Committee for a Responsible Federal Budget (CRFB), a nonprofit that calls attention to issues with significant fiscal impact, cites data from the Congressional Budget Office (CBO) estimating that the US government...