The US government is set to spend more on its debt than on the military within a decade

The US federal government could soon spend more on interest for its debt then on the military, The New York Times reported. Interest payments are expected to make up 13% of the federal budget a decade from now, up from 6.6% in 2017. Tax cuts, spending increases and rising interest rates will make it more difficult to respond to future recessions or spend on other needs, the Times said.
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