The US debt mountain is growing so fast the government could soon be spending more on interest payments than on defense
By George Glover, Business Insider
The US’s mountain of debt is growing every day – and the government could soon be spending more on interest payments than on defense, according to Capital Group.
“US debt dynamics are evolving in a way that requires attention,” Darrell Spence, an economist for the US asset manager, said in a research note last week. “Over the next five years, net interest payments on the debt are expected to surpass defense spending.”
