What happens if you run up $30,000 in credit-card debt? Now suppose it's TRILLIONS in debt...

Most intelligent adults know that if you run up the balance on a credit card, you can easily wind up paying a thousand bucks a month in interest.

The lesson?  Smart people don't put things on their credit cards.  If you can't pay cash for it, unless it's a house or car, don't buy it.

Now: You're an intelligent American.  Do you have any any idea what the total debt of the U.S. government is today?

I'll give you some help:  In 2011 it was just under $15 *trillion.*  So that should help you estimate the debt today, eh?  So what's your guess?

[I've put a big space here]

Today U.S. government debt is a fraction of under $31 *trillion.*  In other words, in just 11 years federal debt has more than doubled.

 

So what does that mean to you?  It means that just as with growing credit-card debt, the total interest the government has to pay every year on this massive debt must, unavoidably, go way, way up.

How much more?  Well, this year the interest the government paid on the national debt was about $400 billion.  Eight years from now interest payments are forecast to balloon to over $900 BILLION every year.  And that's if interest rates don't go higher than 2.8%.  But some experts are predicting the 10-year Treasury note to reach 5.5% in three years, which would mean interest will be consuming almost 20% of all federal revenue.  (Note that the figures in the table below were compiled before May 29th.  They're already far surpassed by relentless, insane spending.)

And of course interest rates are up because the Democrat regime printed and spent trillions that we had to borrow--spent it to buy votes during the Democrat-ordered lockdowns that destroyed the economy.

And speaking of interest rates, note the table's figure for the interest rate on the 10-year Treasury note for 2022:  Supposedly 1.4%.  The folks who made the table say the rate is then forecast to start a gentle climb, forecast (by the shills who made the above table) to reach 2.4% three years from now.

The above table was made in early May of this year, or just four months ago.  And would you believe, TODAY the yield on the 10-year Treasury hit 3.9%, meaning all the calculated interest costs in the above table are now WAY low.

Wow.  What happens if the rate reaches the currently-predicted 5.5%, eh?

Buckle up, cupcakes.

Source.   

https://www.thebalancemoney.com/interest-on-the-national-debt-4119024#toc-interest-on-the-debt-by-year