Projected Net Interest Costs
Net interest costs on the national debt are projected to rise sharply.
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Net interest costs on the national debt are projected to rise sharply.
The U.S. spent more on interest on the national debt than it has on other national priorities over the past decade.
https://www.pgpf.org/chart-archive/0308_interest_spending_priorities
Defense spending is projected to stay below its historical share of GDP.
Over the past 50 years, the share of the federal budget devoted to investments in the future has fallen sharply.
https://www.pgpf.org/chart-archive/0302_declining_investment_future
Mandatory spending accounts for about two-thirds of the budget.
Mandatory programs and interest costs will take over more of the federal budget, squeezing discretionary programs.
https://www.pgpf.org/chart-archive/0156_mandatory_discretionary_pies
Nondefense discretionary spending includes many programs that could promote future economic growth.
https://www.pgpf.org/chart-archive/0021_discretionary-spending
Spending on federal entitlement programs will more than double between 1991 and 2051.
https://www.pgpf.org/chart-archive/0027_entitlement-programs-proj
By 2051, interest costs are projected to be more than three times what the federal government has historically spent on R&D, infrastructure, and education combined.
https://www.pgpf.org/chart-archive/0005_investments_interest
Historically, debt and deficits rose with wars and economic downturns. Today, they rise from factors such as growing healthcare costs and an aging population.