US Interest costs to top defence and medicare
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In 2024, a financial earthquake is set to shake America's budget. For the first time, interest payments on the national debt will outstrip both Medicare and defense spending.
The numbers are staggering:
Interest costs: $870 billion
Defense spending: $822 billion
Medicare: $851 billion
What's driving this surge? A perfect storm of rising interest rates and ballooning national debt.
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