Yesterday, the US released their Budget Deficit Report. To s...

Yesterday, the US released their Budget Deficit Report.
To see how much interest the US has paid on Federal debt, you have to scroll to page 9 of the report.
Then, go to the bottom of the table to the small line item below.
Finally, you'll see that the US has paid an alarming $652 BILLION in interest YTD, up 25% since last year.
As rates rise, we will soon see the first ever year with $1 TRILLION+ in annual interest expense.
Interest expense will soon be the US government's biggest expense, even more than social security.
The debt ceiling crisis wasn't the real crisis.
It was simply a distraction.