Federal spending on interest and entitlements approaches 120%, Luke Gromen argues - Traders Union
Federal spending on interest and entitlements approaches 120%, Luke Gromen argues - Traders Union
Source: Traders Union
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DW NOTE
Luke Gromen's figure — mandatory spending plus interest consuming 120% of revenue — means the US government now requires net new borrowing just to service existing obligations before a single dollar goes to defence, courts, or roads. That's not a fiscal policy, it's a Ponzi with aircraft carriers.