[HIGHLIGHTS] Bloomberg: US spending on debt payments will soon overtake defense

Bloomberg: US spending on debt payments will soon overtake defense. Annual interest on the debt will reach $1.4 trillion by fiscal year 2033.

“We're now in a spiral—it's a slow spiral, but it's still a spiral,” warned chief executive Philip Swagel. Previously author of the book “Black Swan. Under the sign of unpredictability” Nassim Taleb said that the United States is facing a “death spiral” of growing national debt.