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Contact: Justin Longo
Phone: 703.994.7104
Email: Justin@independentcenter.org
FOR IMMEDIATE RELEASE
Washington, DC – On the news that interest payments on the national debt crossed $1 trillion for the first time, Independent Center Director of Communications Justin Longo commented,
“Amazingly, we’re not even through September, and the United States government has to pay over $1 trillion in debt service alone. That’s up 30 percent from this period last year. We’re on pace to fork over $1.158 trillion to service the debt by the end of the year. These numbers are unfathomable. I mean that, literally. The human mind cannot comprehend the enormity of these numbers.”
“Do you know what else is impossible to comprehend? How Republicans and Democrats, working in concert, have kicked the can down the road for it to finally land here at over $1 trillion in interest payments. What an abject failure. What a dereliction of duty to our kids and grandkids, who will be on the hook for this unfathomable obligation. It’s downright immoral.”
“While Republicans and Democrats fight over culture, identity politics, and rounding errors in the budget, we independent voters are aware of the long-term structural problems that are exploding our deficits into terrifying territory. And due to these historic interest payments, we’re flirting with a $2 trillion deficit this year. The longer we wait to take on this inevitable disaster, the more difficult and painful the reckoning will be.”
“Our entitlement programs, The Medicare Hospital Insurance Trust Fund and the Social Security Old-Age and Survivors Insurance Trust Fund, will be insolvent in about ten years. Is anyone willing to have an adult conversation about the debt before then?”
