Cost of Government Debt | Legacy Wealth Management

The United States topped $35 trillion for the first time a couple of weeks ago. Interest on this debt was $658 BILLION in 2023.

That total is 38% higher than the $476 BILLION in 2022.

What a surprise that many US based economists lament this growth is faster than expected but, WHAT IS THE CULPRIT? They blamed the costs of federal programs enacted in recent years have exceeded initial projections.

Shocking… US Government projections were inaccurate…

The debt to GDP ratio last year was 122%.

Spending 22% more than your income is a recipe for some very bad things happening. There are those that say this isn’t a problem…

I leave you with this: It doesn’t matter until it does, and when it does, it is too late…

Legacy Wealth Management

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