A new report reveals a worrying trend: the US government is spending more on interest payments for its massive debt than on national defense. This is raising serious concerns about national security.
Interest Payments Outpace Defense Spending
The Bipartisan Policy Center (BPC), a Washington-based think tank, warns that the US’s $36 trillion national debt is a major threat. In the 2024 fiscal year (October 1, 2023 – September 30, 2024), the US spent a staggering $882 billion just on interest payments. This is more than the $874 billion spent on national defense, and doesn’t even include other crucial national security programs.
A Looming Crisis
The BPC highlights the dangers of this growing debt. The massive interest payments are forcing lawmakers to consider cuts to essential government programs, including national defense. This lack of funding could severely impact the US’s ability to protect itself and its allies. The report emphasizes that consistent budget issues make it harder to prepare for future crises and maintain military readiness.
The Call to Action
The BPC urges immediate action to address the debt crisis. They argue that stabilizing the debt and implementing sustainable fiscal policies are crucial for maintaining the US’s military strength, international diplomacy, and ability to respond to future emergencies. Failure to act, the report warns, could jeopardize America’s global military dominance.
