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Massive Debt, Massive Interest Payments

U.S. government’s $7 trillion debt-servicing cost over next decade is seen pinching other spending

Over the next decade, the U.S. government will spend almost $7 trillion -- or almost $60,000 per household -- servicing the nation’s massive debt burden. The interest payments will leave less room in the budget to spend on everything from national defense to education to infrastructure. The Congressional Budget Office’s latest projections show that interest outlays will exceed both defense discretionary spending and non-military discretionary spending by 2025.

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