Soaring Interest Payments on National Debt Now a Top Concern as Annual Costs Hit $1 Trillion
-
Americans are spending $1 trillion a year just on interest payments as national debt hits $33 trillion.
-
Economists say high debt and interest payments are a economic and national security emergency.
-
Interest payments will soon become the largest government expenditure, more than defense budget.
-
Events like wars, recessions, and COVID-19 have triggered large spikes in national debt.
-
Higher interest rates are fueling inflation and raising costs of mortgages and other loan payments.
![](https://komonews.com/resources/media/136397b4-8676-43b0-8162-dc5f083788f6-large16x9_hrth.png?1664957223102)