The Rising Influence of Rising Affluence

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The CBO projections are out...and it's not pretty. Even as we grapple with the current problems, the not so distant future has arrived. Decades of mismanagement by politicians have finally reached the breaking point. The real economic carnage is just around the corner.

https://reason.com/2022/05/27/new-cbo-report-exposes-bidens-deficit-reduction-lies/

In fact, the CBO projects that interest payments on the national debt will triple by 2032, climbing from about $400 billion this year to more than $1.2 trillion that year. "Over the full decade, interest costs will exceed $8 trillion—comprising more than half the deficit and consuming all revenue outside of individual income and payroll taxes," notes the Committee for a Responsible Federal Budget, a nonprofit that advocates for smaller deficits.