America’s national debt borrowing binge means interest payments will rocket to $2 trillion a year by 2036, CBO says

The White House of 2036 will have a mammoth task on its hands: It will need to rustle up more than $2 trillion a year to pay the interest on its national debt burden, approximately 5% of the nation’s entire economy.

According to the latest projections from the Congressional Budget Office (CBO), the U.S. government will continue to run a sizeable and growing deficit over the next decade. In 2026, the shortfall will stand at about $1.8 trillion, or 5.8% of GDP. Come 2036, that will have ballooned to $3.1 trillion...