An average taxpayer is going to have to fork over more than $2,000 this year just to cover their share of the interest on the national debt. It’s a huge sum going purely to finance the spending and borrowing of the past.
At the rate the national debt is rising, interest payments — the fastest growing part of the federal budget — will be bigger than Medicaid by next year and the military by 2025. Continue reading “Tax Day trauma: Paying for our massive national debt”
