“Interest Costs on the National Debt Set to Reach Historic Highs in the next Decade.” Peter G. Peterson Foundation, 31 May 2022, https://www.pgpf.org/blog/2022/05/interest-costs-on-the-national-debt-set-to-reach-historic-highs-in-the-next-decade.
Graph:
Summary/My Interpretation: When looking at the graph, it is evident that federal spending on the national debt interest is on pace to become the fastest growing program. Overall, this is worrisome as experts believe it will out pace medicare and social security by 2047, resulting in cuts to the programs. Overall, economists believe that the interest on the debt will nearly triple over the next 30 years.
How I Plan To Use This In My Project: In my previous research I state that social security and medicare will be crowded out by the national debt. I want to continue this narrative and use the graph above as a visual demonstration of how this may happen. In general, people tend to not only understand a concept better but also have an increased sense of urgency when provided a visual descriptor.
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