Federal revenues in November rose $23 billion to $275 billion, a 9% increase from a year earlier.
Outlays jumped $88 billion to $589 billion, 18% higher than a year earlier. Interest payments on U.S. government debt accounted for $25 billion of the increase.
The outlay for interest on the debt in November, at
$80 billion
, surpassed the$66 billion
outlay for national defense, which was up $8 billion from a year earlier. The outlay for the government-run Medicare health insurance program also rose by $8 billion, to$93 billion
, while the outlay for the government-run Medicaid program for the poor and disabled climbed $2 billion to$50 billion
.
TFW your interest payments approach medicare spending
The weighted average interest rate on the $26 trillion of outstanding Treasury securities rose to 3.10% last month from 2.22% in November of last year.
Seems nice in sense, if fed won't drop interest rates in the next year, libertarian bugbear about deficits will come closer to fruition
Ancaps unironically think that this will be solved by having porky directly replace the government in its entirety and that porky will not just continue this shit.
If crypto has shown us anything it’s that porkies will centralize exchanges at their earliest convenience. Same goes for various levers of state power.