The U.S. debt wall is here: $8 trillion gets refinanced. The bill could jump $300 billion a year
The government can survive one expensive year, but when trillions of old cheap debt keep getting replaced with higher-rate debt, the interest bill starts behaving like a bill that renews itself every year. CBO already projects net interest outlays rising from about $1 trillion in 2026 to $2.1 trillion in 2036. 2026 is the year … Read more