The Patriot Post® · Alarming Deficit Crisis

Republican members of the Senate Budget Committee released a new study this week that paints another alarming picture of America’s debt crisis – a danger that continues to be ignored by most politicians on both sides of the aisle. The numbers are bleak: By 2024, according to CBO projections, yearly interest payments will be more than three and half times larger than what it costs to fund 18 different federal agencies, such as the Department of Education, NASA, the FDA and FBI, to name a few. “In 2014, the Congressional Budget Office projects that the nation will spend $233 billion on interest payments,” they write. “By the end of the budget window in 2024, however, CBO forecasts that interest payments will nearly quadruple to an astonishing $880 billion.” That’s compared to the $240 billion currently required to fund the federal expenditures listed on the graph below.