Interest payments on the US debt passes $1T
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If you’re relying on Social Security for part of your retirement income, this is not good news. At these levels, the government is running up more debt just to cover the interest payments and there is less to spend on domestic programs.
The interest payments are higher than we spend on defense.
These payments are made to people, institutions, and foreign governments who can afford treasuries. It’s a massive transfer to the rich.
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With November 17 upon us, what do you anticipate the National Budget will contain? And how will that affect interest rates?
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Guns and bombs to arm other nations…
The rates on treasuries have dropped recently, but that means people are buying them. But the government is likely to offer higher rates on new issues to entice people to buy.
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@mschwartz T Bills 5.46 so that is not a bad rate.
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@Bugs short term. You can’t count on high yield when the short term bonds mature…
