👀 Interest payments on the $33.7 trillion in US national debt is now annualized at over $1.0 trillion per year.
This is the 2nd largest item in the budget, behind only social security. Interest on the debt is now more than Defense.
With $6 trillion in debt maturing in the next 12 months, much of that old debt at 1% to 2% rates will have to rollover and be refinanced at the current rates of 5%. 12 months from now, if rates are 5% or higher, we will likely be paying $1.3 trillion per year in interest on the debt.
If the debt grows to $40 trillion within 2 years and it all gets refinanced at 5% or higher, interest payments on the debt could be $2 trillion per year by 2026. 👀
Keep stacking sats 💫
