💰By 2033, interest payments on the national debt will exceed defense spending.
📈The US debt has been increasing under every US president, regardless of political party.
🔐The more national debt the US piles on, the less demand there will be for Treasury bonds.
📊US government debt held by the public is projected to exceed 100% of GDP by next year.
🌍The US debt dynamics require attention and could have global implications.
Will higher taxes be necessary to service the growing national debt?
—Yes, higher taxes will likely be needed to service the increasing debt.
Is the national debt increasing under every US president?
—Yes, the national debt has been growing regardless of the political party in power.
How will the growing national debt affect demand for US Treasury bonds?
—As the debt increases, the demand for US Treasury bonds is likely to decrease.
What is the projected level of US government debt held by the public?
—It is projected to exceed 100% of GDP by next year.
Are the US debt dynamics a concern globally?
—Yes, the US debt dynamics require attention and could have implications beyond the country's borders.
00:03The video introduces the topic of the growing national debt crisis in the United States.
00:23By 2033, interest payments on the national debt will exceed defense spending.
01:21The US government will need to spend nearly $1.5 trillion per year to service its debt by 2033.
02:56The Treasury Department had difficulties selling bonds, indicating a change in sentiment toward US debt.
03:46The top 10 spending categories in the US government include social security and national defense.
04:19Interest expense on national debt will soon move up the list of spending categories.
05:52US government debt held by the public is projected to exceed 100% of GDP by next year.
06:24The ballooning debt pile could force the government to raise taxes and slow economic growth.
