The author is delusional about the solvency of the United States Government, as are both Republicans and Democrats.  Say interest rates keep to around 5%, low historically but not free, and we keep spending $1 Trillion more than tax receipts.   All that new debt per year at 5% is $50 Billion.  As low cost debt matures we just borrow it back at the same 5%.  So we are adding debt and we are refinancing debt at 5%.  Say $20 Trillion of it matures in the next few years - that's all at 5%, and now our total interest expense is - that is $1 Trillion that we pay for interest.  My point is that we will be spending our budget on interest that could have gone to social programs, military and whatever else Joe Biden and the rest of the big spenders can dream up - just because we keep putting our heads in the sand - Democrat or Republican.  And no one says anything about it, including our esteemed author here.

The author is delusional about the solvency of the United States Government, as are both Republicans and Democrats.  Say interest rates keep to around 5%, low historically but not free, and we keep spending $1 Trillion more than tax receipts.   All that new debt per year at 5% is $50 Billion.  As low cost debt matures we just borrow it back at the same 5%.  So we are adding debt and we are refinancing debt at 5%.  Say $20 Trillion of it matures in the next few years - that's all at 5%, and now our total interest expense is - that is $1 Trillion that we pay for interest.  My point is that we will be spending our budget on interest that could have gone to social programs, military and whatever else Joe Biden and the rest of the big spenders can dream up - just because we keep putting our heads in the sand - Democrat or Republican.  And no one says anything about it, including our esteemed author here.

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