Our nation is $17 trillion in debt. During the “shutdown,” that debt continued to grow at a rate of $2.3 million a minute, every minute of every hour of every day.
It has been more than 60 years since anything was paid toward the principle on that debt. The interest thus far this year is more than $400 billion. The interest on that debt is the fastest growing expense in our nation’s budget during a time of very low interest rates.
If something isn’t done to stop adding to that debt, we will soon reach the point we will not be able to afford to make that payment and will truly be in default, regardless of any “agreement” reached on Capitol Hill. There are some members of Congress who recognize this problem. Most are more concerned about the next election cycle.