The Bipartisan Policy Center says the US government’s multi-trillion dollar debt is now a clear threat to national security.
The Washington-based think tank highlights in a blog post that the US shelled out nearly $1 trillion just to pay the interest of its ballooning national debt during the 2024 fiscal year (FY), which ran from October 1st, 2023 to September 30th, 2024.
The organization notes that in FY 2024, net interest spending has overtaken the budget spent on various US national security programs.
“A large and growing national debt poses long-term economic and security risks to the United States. Those risks are becoming more evident. In fiscal year (FY) 2024, the US spent $882 billion on interest payments (to service its borrowing).
In comparison, the total national defense discretionary spending for FY2024 was $874 billion, plus billions more in other important national security areas.”Â
