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U.S. Economy FAQ: Skyrocketing Insurance Prices, Stuck Inflation, Higher Rates, and Wrong Experts
Plain English with Derek Thompson
Implications of Increasing Government Interest Payments
Government interest payments have reached an all-time high, surpassing spending on the military. This shift in debt dynamics could lead to prolonged periods of elevated inflation and interest rates. The lack of government initiative to raise taxes or cut spending on major programs like Social Security, Medicare, and the military may result in continued pressure on the economy. This situation suggests a future where the US government devotes more resources to servicing higher interest rates through tax dollars or deficit spending.
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