As Debt Rises, the Government Will Soon Spend More on Interest Than on the Military

September 25, 2018 via The New York Times –

The federal government could soon pay more in interest on its debt than it spends on the military, Medicaid or children’s programs.

The run-up in borrowing costs is a one-two punch brought on by the need to finance a fast-growing budget deficit, worsened by tax cuts and steadily rising interest rates that will make the debt more expensive.