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The Pomp Podcast

#1241 Solo Episode | Interest Payments on the National Debt are Exploding Higher

Sep 13, 2023
15:02
Snipd AI
Podcast host Anthony Pompliano discusses the major problem of exploding interest payments on the US national debt, including causes, consequences, and potential solutions. He also touches on the increasing national debt, the dilemma faced by the Federal Reserve, and the need for a balanced budget.
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Podcast summary created with Snipd AI

Quick takeaways

  • Interest payments on the US national debt have reached a record high, diverting funds from crucial areas like infrastructure and education.
  • Possible solutions to address the growing national debt include lowering interest rates, aiming for a balanced budget, and generating GDP growth.

Deep dives

The Growing National Debt

The United States national debt has reached nearly $33 trillion, with debt per taxpayer at around $254,000. Interest payments on the national debt are now equivalent to military spending, hitting just over $900 billion. This poses a major problem as interest payments are diverting funds from other crucial areas like infrastructure, education, and research and development.

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