U.S. Debt Soars Beyond $1 Trillion in Annual Interest for the First Time; Debt to Hit $50 Trillion by 2033
Based on data from the Congressional Budget Office, a Bank of America note predicts that the U.S. government will surpass $50 trillion in debt by 2033, reported Business Insider. Simultaneously, according to the Treasury’s calculations, the total interest has eclipsed $1 trillion this year, precisely reaching $1.027 trillion, marking the first instance of crossing the trillion-dollar threshold in a single year.
The post U.S. Debt Soars Beyond $1 Trillion in Annual Interest for the First Time; Debt to Hit $50 Trillion by 2033 appeared first on Worthy Christian News.
Mortgage rates increase for 10th consecutive week, highest in over 20 years
US mortgage rates increased for the 10th consecutive week as of the week ending October 21, reaching the highest level they have been for over 20 years, the Mortgage Bankers Association (MBA) reports. Mortgage applications for the week ending October 2…
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