For the first seven months of fiscal year 2024, which began last October, net interest payments totaled $514 billion, outpacing defense by $20 billion. Budget analysts think that trend will continue, making 2024 the first year ever that the United States will spend more on interest payments than on national defense.
David Schweikert (R-AZ) has been shouting about this for months:
https://youtu.be/c3Lp9mLwFOo?si=3iW36VimA-RiwdSB
US federal budget crosses grim milestone as interest payments overtake defense spending
byu/unwanted_hair inwallstreetbets
Posted by unwanted_hair
22 Comments
Pretty simply solution.
https://preview.redd.it/swd8s2kj5t1d1.png?width=1024&format=png&auto=webp&s=95f2ab19b0e99f6861c3e88b608d769a3316b0f6
So the government is now like most Americans, their biggest expense is their debt. Seems like it was inevitable. 
Gonna need some QE to inflate the debt away
I hate when the (money) printer goes into sleep mode and you gotta wait like 5 minutes for it to wake up again…
If we don’t give a shit about the debt why does it matter what it’s for?
Calls on defense contractors since there’s now an incentive in terms of optics for congress to increase expenditures.
Defense spending is decreasing as after the collapse of USSR, everyone assumed that the US no longer has significant threats. This is the so called peace dividend and it is observed in other countries as well.
So I thought the bit about how a trillion of debt to trust funds was created because of the debt ceiling debacle was rather interesting. It’s almost like that group of lawmakers (we all know who you are) are making the problem worse by forcing the gov into more expensive debt to trust funds for people that are probably financing their campaigns while simultaneously making the problem worse so they can campaign on it even harder.
Who gives a flying fck?  they can print 500000000 trillion and it’s a nothing burger 
The solution is more defense spending, to protect us from China funded by China.
You seem to think debt is actually real. Just live your life, borrow all the money you can. And let them erase it to 0 eventually
That’s an easy one. Spend more on defense. 😎
us paying its citizen more money in interest than in war, BULLISH
Maybe cut the defense budget in half and pay down the debt? Nah, too easy.
Time to fire Powell and roll back the Trump tax cuts.
The interest rates and billionaire tax cuts are bankrupting us.
It’s almost like running up your debt has negative consequences eventually….. Imagine that.
As a holder of US treasuries I thank you for your contributions
I see this as a plus ..
Now the gop can’t say cut defence spending
This is why I hope everyone is pumping a Roth IRA. Traditional IRAs and 401ks will be worthless in the future when the government takes its massive cut per distribution. Just think what happens when the welfare state funds dry up…. which piggy bank will feed the trough? That’s right – your retirement savings.
Wake me up when it passes Social Security.
Can I short the pentagon?
Sounds like we need to crank up the defense spending then! All in on Northrop Grumman, or as I like to call it, Nonstop Cummin’, cause that’s what I do when I make money!
Whoooooooo caress anyway not jpow