The Cost Of Servicing The US Debt Is Now Larger Than Annual Spending On Appropriations For National Defense. Does this make any sense?

[RingOfFire]

Making your life poorer isn't the only thing the Democrat's exploding inflation is doing. The record inflation and debt spending they brought us has thrown the country into a bankruptcy doom loop. JUST THE INTEREST on the giant bill they have run up, on the record national debt they have amassed (over $34 for the first time in history) is bigger than the entire amount spent on national defense. THIS IS YOUR MONEY BEING WASTED. YOU AND YOUR CHILDREN WILL BE GETTING THE BILL FOR IT.

Isn't it time to vote these thieves out?

[Tanya456]

I don't understand it. The US is currently 34 trillion in debt. Who are the idiots that are loaning us money? When was the last time we balanced the budget?

[RingOfFire]

Q: Who are the idiots that are loaning us money?

A: US and foreign investors including insurance companies, private and public pension funds, individuals, government-sponsored enterprises, brokers and dealers, banks, bank personal trusts and estates, corporate and non-corporate businesses, the Federal Reserve, state and local governments, mutual funds, holders of savings bonds, foreign governments and others.

Q: When was the last time we balanced the budget?

You get the prize for this one because it is exactly the right question to ask.

A. 2001
(the National Debt was $3.339 trillion in 2001, but the budget for fiscal 2001 was balanced)

A balanced budget only happened 3 times in the last 55 years.

[Avicenna]

It's likely to get much worse than that. This was entirely predictable once the Fed stopped deliberately holding interest rates down.

[OtterMan68]

last president to veto a budget because it would add too much to debt and deficit was...