Billionaire Investor Warns of 'Debt Bomb' as Interest Costs Eclipse Defense Spending

Billionaire investor Paul Tudor Jones warns of a "debt bomb" due to unsustainable government deficit spending and borrowing
CBO projects interest payments on U.S. debt to surpass defense and Medicare spending by 2024
U.S. national debt has surged past $34 trillion, leading to high interest payment obligations
For fiscal year 2024, projected net interest payments hit $870 billion, becoming the second largest budget item
Federal budget deficit exceeded $531 billion in just the first 5 months of fiscal year 2024, continuing deficit trend