Erasmus Brennan In 2022 the US spent about 5% of gross income on the debt service.  Some sources say less.How many Americans spend less than 5% of their gross income on their debt?  Credit card interest.  Home mortgage interest.  Car loan interest.  Many Americans spend more than half of their gross income on these things.The US has been able to "borrow" lots of money at almost no interest the past several years, to pay for all kinds of stuff.  Not a bad idea, since we have lots of things that are starting to fall apart.  It's not the amount you borrowed, it's how much it is costing you.  A business that got a 1% loan to upgrade all of their operations to make themselves more productive, would be called "genius".If we need to cut spending, let's not cut it from the Social Security check of the 75-year-old woman who worked her whole life and now can barely buy groceries.

Erasmus Brennan In 2022 the US spent about 5% of gross income on the debt service.  Some sources say less.How many Americans spend less than 5% of their gross income on their debt?  Credit card interest.  Home mortgage interest.  Car loan interest.  Many Americans spend more than half of their gross income on these things.The US has been able to "borrow" lots of money at almost no interest the past several years, to pay for all kinds of stuff.  Not a bad idea, since we have lots of things that are starting to fall apart.  It's not the amount you borrowed, it's how much it is costing you.  A business that got a 1% loan to upgrade all of their operations to make themselves more productive, would be called "genius".If we need to cut spending, let's not cut it from the Social Security check of the 75-year-old woman who worked her whole life and now can barely buy groceries.

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