The trajectory of US debt interest payments is not sustainable, Maya MacGuineas told Insider.
Interest will eclipse defense spending in four years, the Committee for a Responsible Federal Budget president said.
By that measure, US debt interest payments will become the single biggest federal expenditure by 2051, when it eclipses Social Security.
AdvertisementAdvertisement"So clearly not sustainable," Maya MacGuineas, president of the Committee for a Responsible Federal Budget, told Insider.
AdvertisementAdvertisementAt today's level, interest payments already outpace federal spending on youth education, and in four years, it will top defense spending.
Persons:
MacGuineas, Janet Yellen, it's
Organizations:
Federal, Social, Service, CNBC, Congressional, Federal Budget, Treasury
Locations:
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