In a decade, federal spending to pay for the interest on America’s debt will exceed total spending on the defense budget by $125 billion, or 20 percent, according to projections from the Congressional Budget Office and the Office of Budget Management. The projections are based on President Barack Obama’s current budget plan.

Here’s a chart from the Republican side of the Senate Budget Committee that shows 2022 national defense spending vs. net interest payments:

Recommended Stories

U.S. Government Celebrates Half Trillion Dollar Deficit

Dick Cheney said deficits don’t matter. Tell that to your 7% mortgage

Congress won’t fix itself. The Constitution says it doesn’t have to