Billionaire warns interest on debt topping defense spending a sign 'the country is in trouble'

Published On Sep 24, 2024, 5:54 PM

David Rubenstein, co-founder of the Carlyle Group, highlighted concerns over the United States' rising national debt, which has now reached more than $35 trillion. He noted that interest payments on this debt have surpassed federal spending on both defense and Medicare, marking a troubling financial trend. Rubenstein warned that until there is a significant crisis, the public and Congress may not prioritize addressing the debt issue. He emphasized that the current annual deficit of about $2 trillion is unsustainable, suggesting future fiscal troubles if steps are not taken to curb spending and manage debt more effectively.