I've never been much of a deficit hawk, but this is crazy:
According to the Congressional Budget Office, the federal government — aka U.S. taxpayers — will spend $455 billion on interest next year. By 2029, that figure is projected to rise to $921 billion.
Beginning next year, he said, the federal government will spend more on interest than it will on programs affecting children. By 2025, he said, taxpayers will pay more on interest than they do on national defense. “Our budget will be spending more on our past than we do on our future,” Peterson said. “That’s a stark reminder of what we’re leaving our children here.”
Reaganomics was bad enough, when excessive tax cuts for the wealthy ended up with Social Security recipients paying fricking tax on their own retirement money. But Trumpism has broke the mold, and we will look back on the $1.5 Trillion tax giveaway as the epitome of ignorance by the time 2030 hits. And before you say, "they always do it," take a look at the late 1990's: