America's Self-Reinforcing Debt Loop.
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America Is Spending $3 Billion Per Day on Interest. Behind that payment is $40 trillion of debt. America is the first country in history to cross this milestone. Every year, the government spends more money than it collects. That gap is the deficit. The deficit is now nearly $2 trillion per year. Which is where the problems start. The government runs a deficit. The deficit requires more borrowing. More borrowing means more debt. More debt increases the interest expense. And higher interest expense means the goverment has to borrow more to pay for the deficit. It's a self-reinforcing feedback loop.
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