The national debt surpassed a record $40 trillion on Wednesday, a staggering milestone as defense costs, social programs like Social Security and Medicare and interest on the burgeoning deficit make up an enormous share of federal spending.
The milestone figure was recorded just five months after the U.S. hit a record $39 trillion debt in March. It reached $38 trillion five months before that, in October.
The unprecedented $40 trillion figure highlights competing administration priorities, from boosting defense spending that the U.S. relies on to carry out President Donald Trump’s almost-6-month-old war in Iran to lowering the cost of gas and groceries.
C’mon the US is the world’s casino and nobody bankrupts a casino!
I would upvote this post, but the story tries to blame Medicare and Social Security. Those are not the main drivers of this debt. Over half the national budget is military spending.
It’s AP, I should have known better and my bad.
AP is usually pretty neutral. I found this slant bizarre coming from them.
Social Security solvency is fixed pretty easily by removing the “high income” caps and making all taxpayers contribute.
AP is usually pretty neutral. I found this slant bizarre coming from them.
I disagree. You may have made that decision years ago. They suck 60-70% of the time now. Look at their board of directors if you want confirmation.
defense costs, social programs like Social Security and Medicare and interest
Interest on debt is higher than social programs. The rest is just the ‘defense’ costs.
