The national debt is expected to hit a record high as soon as this week, crossing a major threshold of $40 trillion. Congressional correspondent Lisa Desjardins explains why that milestone is a warning sign for many economists.
The national debt is expected to hit a record high as soon as this week, crossing a major threshold of $40 trillion. Congressional correspondent Lisa Desjardins explains why that milestone is a warning sign for many economists.
The US budget is:
22% social security.
15% Medicare.
15% interest on debt.
13% Medicaid/Obamacare.
13% military spending.
10% unemployment and food stamp benefits.
6% veteran benefits including healthcare.
6% everything else: education, infrastructure, law enforcement, national parks, NASA, etc.