US Interest Payments to Cost More Than Entire Defense Budget, $31 Trillion Debt Points to ‘Very Precarious Future’


dollar crisis worthy christian news(Worthy News) – The Federal Reserve announced on Wednesday it’s raising interest rates by another half point in an effort to stifle America’s crushing inflation problem. While this is smaller than the three quarter-point hikes from the past four Fed meetings, it’s still double the customary quarter-point raise.

“We have raised interest rates by four and a quarter percentage points this year,” said Federal Reserve Chair Jerome Powell. “We continue to anticipate that ongoing increases in the target range for the federal funds rate will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2% overtime.”

As the Federal Reserve fights its war on inflation with repeated, unusually high interest rate hikes, it’s not just the American people paying more to borrow money, but the federal government, too. In fact federal interest payments are on track to cost more than the defense budget in the coming years. [ Source: CBN News (Read More…) ]

10
people are currently praying.

Worthy News reports from a biblical worldview with a commitment to accuracy, transparency, and editorial independence. Learn more about About Worthy News, our Editorial Standards, AI Use Policy, Ownership of Worthy News, News Tips and Corrections, and Worthy News Staff.

💡 Did you know? One of the best ways you can support Worthy News is by simply leaving a comment and sharing this article.

📢 Social media algorithms push content further when there’s more engagement — so every 👍 like, 💬 comment, and 🔄 share helps more people discover the truth. 🙌

Discuss this article in our forums

Latest Worthy News

Israel Faces Western Pressure Over West Bank Settlements, Gaza Aid Convoy Strike
NATO On Alert Over Iranian Threat To European Allies
New Evidence Suggests Nigeria Christian Massacre Was Part Of Coordinated Attacks (Worthy News Investigation)
Freed US Missionary, Wife Thank Christians For Prayers After Niger Captivity
Archaeologists Uncover Possible Exodus-Era Site Along Egypt’s Ancient Military Road
Israel’s High Court Blocks Army Radio Closure, Citing ‘Improper’ Motives
Netanyahu Tells Kushner Israel Remains Firmly Opposed to Palestinian State
Sweden’s King Mourns Victim Of Deadly High School Sword Attack
Ukraine Seeks More Satellite Support As Russian Strikes Drive Up Civilian Toll (Worthy News In-Depth)
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

Books by George Whitten

The Eternal Kingdom Revealed cover

The Eternal Kingdom Revealed https://eternalkingdomrevealed.com

The Eternal Kingdom Revealed traces the Kingdom of God as the central story of Scripture, from before creation to the restoration of all things.

Buy on Amazon
The Biblical Fall Feasts Revealed cover

The Biblical Fall Feasts Revealed https://biblicalfallfeasts.com

An in-depth look at the Biblical fall feasts and their prophetic significance for believers today.

Buy on Amazon

As an Amazon Associate I earn from qualifying purchases.

Worthy Christian News