Interest Payments on America’s Soaring National Debt Will Enrich Foreign Bondholders and Governments With Taxpayers’ Dollars

Total payments of interest on the debt through fiscal year 2035 will be almost $14 trillion, unless Congress gets spending under control.

If America was a family or a business, its present debt situation would be considered a crisis.

According to the Congressional Budget Office, the current national debt held by the public is $29 trillion. This is 98 percent of our gross domestic product. The CBO expects it to climb to almost $52 trillion by fiscal year 2035. This includes intragovernmenta…