Democrats (and many Republicans) don’t seem to care about the mountain of debt Congress added last year and continues to add this year. Instead of simply opening the economy back up as the virus wanes, Democrats are plowing ahead with another $2 trillion in deficit spending.
The Congressional Budget Office, a non-partisan agency, warns that this mountain of debt will explode interest payments, such that over the next 30 years, taxpayers will have to pony up $61 trillion in interest. (Interest payments, by the way, don’t buy you government services. Interest payments just eat up cash and crowd out other government expenditures.)
By 2050, interest payments will consume nearly half of the entire budget!