‘s head-first acceleration into impending fiscal crisis, not that anyone in either party seems to care much.net interest payments on the national debt are up a whopping 42%
And consider the last time when deficit spending even came close to what we’re spending today. During World War II, when the United States had to expand its deficit to a full quarter of annual GDP to defeat the literal Nazis, the debt-to-GDP ratio topped out at nearly 119%. Within the next decade, with no wars or recessions in the American midst, the CBO projects that the debt-to-GDP ratio will skyrocket to 122%.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: