Government Spends More On Interest than Any Program

The Mercatus Center is out with some new analysis of federal spending and one of the most surprising conclusions is that by 2040, the government will be paying more in interest than any single program or department, including the behemoth entitlement programs like Social Security, Medicare, and Medicaid. In 30 years, interest costs will be 9.3 percent of GDP, an increase of seven time. Medicaid and Medicare, by comparison, will be a combined 11 percent of GDP. Total government spending, by the way, will be 36.6 percent of GDP, an increase of 53 percent. 

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