October 1, 2014

U.S. CBO Report Highlights Coming Surge in Debt Service Payments

Congressional Budget Office: Growing Debt, Rising Rates Will Ignite Interest Payments; Debt Service Costs Will Exceed $5.8 Trillion Over FY2015-FY2024 Period
April 14, 2014
Market News International (MNI)

Excerpt

"Debt service costs have become the 'other' entitlement - and not just the 'other' entitlement but one of the largest entitlements," says Robert Bixby, executive director of the Concord Coalition. He added, "the size of our debt service payments is going to get very large, very quickly. In this ten year period, debt service costs are going to be larger than the defense budget and larger than any other domestic agency. This is really stunning, when you think about it."