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Interest on debt huge threat…

The justifiable and unavoidable focus on the highest inflation in 40 years should look beyond its visible impact on the economy and the cost of goods and services. While the most noticeable sign of increased prices appears at gas stations, where they are reaching record highs every day, there are less noticeable but more destructive long-term consequences of higher costs that should be made clearer to the American people. 

Over the past two years, $4.6 trillion has been provided by Congress in response to the COVID-19 pandemic. The impact on inflation, particularly the timing of the $1.9 trillion American Rescue Plan Act in March 2021, is subject to some debate, but what cannot be denied is the impact this spending has had on the interest paid on the national debt. Between 2011–2018, interest on debt held by the public averaged $272 billion annually. Between 2019–2021, annual interest on the debt averaged $389 billion, an increase o …

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U.S. National Debt

The current U.S. national debt:
$34,573,199,545,841
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