Alarm Bells Ring as Debt Interest Soars Taxpayers are already shouldering more than $1.13 trillion in interest during the 2024 fiscal year—nearly $7,400 per tax filer. This isn’t just abstract math: it's money siphoned from productive pursuits into debt peacetime liabilities. And these numbers aren’t temporary quirks—they’re a structural problem. The deficit is running at over $2 trillion this year, and next year shows no sign of relief. By the end of another Trump term, the national debt may exceed $40 trillion, swallowing government revenue whole. Interest-on-debt already rivals the entire Defense Department budget—effectively operating a second DoD, paid for by the middle class. Why This Matters: The Debt Spiral Look back to the 1980s: interest was high, but debt-to-GDP…
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