MovieChat Forums > Joe Biden Discussion > We are lucky to be Americans

We are lucky to be Americans

posted a year ago by retieredactor (1013)
4 replies | jump to latest

https://x.com/KobeissiLetter/status/1731431196310061072?s=20

Annualized interest expense on US Federal debt is nearing $1.1 TRILLION.

To put this in perspective, 2023 defense spending was $821 billion.

This means the US is on track to spend 34% MORE on interest expense than defense spending.

In 2023, the US government produced $4.4 trillion in revenue.

This means that 25% of receipts in the entire 2023 are equivalent to our annual interest expense.

If it looks like interest expense is moving in a straight line higher, that’s because it is.

Rising rates and falling tax revenue are both occurring at the same time.

[–] AmeriGirl26 (15113) a year ago

Now, how does that help regular Americans who don't work on the stock market and are not part of the elite?

[–] moviechatterer (16326) a year ago

thats pretty good news , just disband the military and it would almost cover the National debt interest.

[–] AckbartheHutt (1370) a year ago

No need to worry. Joe is going to BBB soon.

[–] Porsche911 (3813) a year ago

America is respected across the world and is known as a peace keeping nation. We are by far the wealthiest country on the planet. America is the ultimate super power and will rule the world for centuries, probably to the end of time!