In the last 50 years, we as a country have spent more than we have collected from taxes 46 times. Just 8% of the time in the last 50 years, we have managed to spend less than we have collected. This has driven our net interest expense to approach nearly 1 trillion dollars for FY2025.
Net interest $970 B
National defense $917 B
Medicaid $668 B
Veterans Benefits $377 B
Only social security and medicare can outpace our spending on net interest.
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