Wall Street Mav
@WallStreetMav · Jun 12, 2023
Excellent thread 🧵
Interest on the US debt is about to become the 4th largest expense of the US govt, ahead of defense.
Interest on the debt is +25% compared to previous year. On pace for $900 billion.
E.J. Antoni, Ph.D.@RealEJAntoni· Jun 12, 2023Latest US Treasury data show we're on unsustainable path: interest on the debt was a whopping $61 billion in May, more than was spent on veterans benefits and services, education, and transportation COMBINED; interest costs were a quarter of the deficit last month:
Elon Musk
@elonmusk
!
08:48 PM · June 12, 2023 · 438.1K views
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