That is how much the federal government is now paying in interest on the national debt. This chart shows how interest payments have surged, essentially since the beginning of the Biden Administration. It comes from Scott Bessent of Key Square Capital, via Stephen Moore’s Committee to Unleash Prosperity:
Stephen Moore notes that evaluating debt requires consideration of the purposes for which it has been incurred. Unfortunately:
In recent years, we’ve been spending money on three Biden-Harris priorities: welfare and income redistribution programs, green energy flops, and student loan bailouts.
Our federal government is careening toward fiscal collapse, and half of our voters think the most important policy issue is abortion.
