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The ballooning US debt pile is akin to a ticking time bomb for the country, in part because it weakens national security, billionaire Carlyle Group (CG) co-founder David Rubenstein warned.
"We have, as everybody now knows, $40 trillion of debt. Now, historically, if you go back over the last, let's say, 300 or 400 years, whenever a country paid more interest on its debt than it did for its national security, that's a sign of weakness in the country. Right now, we've crossed that threshold," Rubenstein said in a new episode of the Power Players with Brian Sozzi podcast (see video above or listen below).
"We're now paying more in interest every year than we are paying on our national defense, and we're paying a trillion dollars in interest, a little bit more than that now, but we pay about a trillion dollars in national defense," he added. "And as that continues, the interest goes up, and the money available for defense goes down. That tends to weaken your national security."
The numbers surrounding the debt situation are ever more staggering.
#interest #power
The ballooning US debt pile is akin to a ticking time bomb for the country, in part because it weakens national security, billionaire Carlyle Group (CG) co-founder David Rubenstein warned.
"We have, as everybody now knows, $40 trillion of debt. Now, historically, if you go back over the last, let's say, 300 or 400 years, whenever a country paid more interest on its debt than it did for its national security, that's a sign of weakness in the country. Right now, we've crossed that threshold," Rubenstein said in a new episode of the Power Players with Brian Sozzi podcast (see video above or listen below).
"We're now paying more in interest every year than we are paying on our national defense, and we're paying a trillion dollars in interest, a little bit more than that now, but we pay about a trillion dollars in national defense," he added. "And as that continues, the interest goes up, and the money available for defense goes down. That tends to weaken your national security."
The numbers surrounding the debt situation are ever more staggering.
#interest #power
4 hours ago
