For fiscal year 2023, the US government will generate $2.3 trillion in income tax.
The US will also collect $1 trillion in Social Security and $409 billion in Medicare.
Meanwhile, interest expense on US debt is expected to hit $500 billion.
The US will officially be paying more money in interest on federal debt than what is collected for Medicare.
By 2033, annual interest on US debt is expected to hit $1 trillion, or 25% of annual government revenue.
Interest on US debt will soon be our biggest expense.
https://twitter.com/kobeissiletter/status/1648454598959726592?s=46
