U.S. House of Representatives Speaker Kevin McCarthy said that interest payments on the nation’s public debt over the next 10 years will be comparable to payments made in the past 83 years. The politician said this in an interview with the TV channel. Fox News.
McCarthy noted that the US national debt is currently reaching very high values. It exceeded the size of the entire country’s economy and reached 120% of GDP. With the situation developing this way, McCarthy believes he will have to pay more interest on public debt over the next ten years than he has paid in the previous 83 years.
US Treasury Secretary Janet Yellen knowledgeablethat the country may have defaulted on the fifth, rather than the first, of June of the current year. According to that,
During the week of June 5, the U.S. Treasury will make approximately $92 billion in payments and transfers, including approximately $36 billion in quarterly adjustments to social security trust funds.
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.