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
, surpassed theoutlay 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, while the outlay for the government-run Medicaid program for the poor and disabled climbed $2 billion to.
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
Money printer go brrr for rich people, who safely park their capital in high-yield Treasury notes before the market collapses.
The point of these high interest rates is to incentivize capitalists to pull out of the real economy, which shrinks jobs, which disciplines labor.
