ARROJO

In the United States, the federal government will spend $892 billion in the current fiscal year on interest payments — more than it has earmarked for defense and approaching the budget for Medicare, health insurance for older people and those with disabilities, per CNN.

Everyone is posting that the annualized number is about $1.059 trillion. However the interest on the debt for just May 2024 was $103 billion. Debt will grow another $2 trillion or more in the next 12 months. We are already on pace for over $1.2 trillion in annualized payments on the debt. Within the next few years, interest on the debt will exceed Social Security payments and become the largest item in the budget.