| ▲ | root-parent 6 hours ago | ||||||||||||||||
>> There are so many other issues to worry about at the moment more immediate than solvency. The U.S. government spends about one-third! (roughly 33% to 39%) of individual income tax revenue strictly to pay the interest on the national debt and that is not even paying off the principal balance itself: https://budget.house.gov/imo/media/doc/cbo_baseline_february... A raise in interest rates for treasuries, can bring this into 50% to 60% within days. Yeah...worry about other things... | |||||||||||||||||
| ▲ | softwaredoug 5 hours ago | parent | next [-] | ||||||||||||||||
That 33%-39% goes back into stimulating the global economic system where America is at the center. To people like me that own US Treasuries. You’re not wrong. But it’s not as simple as 33-39% disappearing into a black hoe. | |||||||||||||||||
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| ▲ | lotsofpulp 5 hours ago | parent | prev [-] | ||||||||||||||||
Why is the individual income tax revenue important to compare to interest costs? Total interest cost as a percent of total revenue seems like a more holistic comparison, which is 15%. https://fiscaldata.treasury.gov/americas-finance-guide/feder... | |||||||||||||||||