How did we arrive at a point in this country where 25% of all tax revenue goes to just paying the interest in $37 trillion in govt debt? Annually: US govt total reveneue = about $5 trillion US govt interest on debt = about $1.2 trillion US govt spending = about $7 trillion
How did we arrive at a point in this country where 25% of all tax revenue goes to just paying the interest in $37 trillion in govt debt?
Annually:
US govt total reveneue = about $5 trillion
US govt interest on debt = about $1.2 trillion
US govt spending = about $7 trillion