The U.S. Government Could Be on the Hook for $1 Trillion in Annual Interest Expenses
Erick Arndt2022-11-09T12:54:30-08:00Do Rising Interest Rates Impact US Debt? Congress—and in particular, the House of Representatives—is invested with the “power of the purse”; the ability to tax and spend public money for the national government. And spend they have. Total outstanding government debt currently stands at just over $31 trillion and that number will likely increase, regardless [...]