An article in the US “New York Times” on June 27, original title: The US treasury debt problem is more serious than people realize. Over the past 20 years, the increase in US federal debt has sounded a wake-up call many times. There are voices that think the US is about to face fiscal liquidation. At that time, the government will no longer be able to drink freely from the springs of “unjust wealth.” Concerns about future crises, increasing interest by $55 billion a year have distracted people, and many people may have overlooked that the government's dependence on debt has caused many internal and external problems. Interest expenses on US federal debt now exceed military spending, which is roughly equivalent to the annual cost of federal health insurance. This amount is more than the government's spending on anything other than social security. The “Big and Beautiful Act” will exacerbate this excessive squandering. In 2017, the US president signed the country's largest tax cut in the previous 30 years, and the “Big and American Act” will repeat its mistakes.

An article in the US “New York Times” on June 27, original title: The US treasury debt problem is more serious than people realize. Over the past 20 years, the increase in US federal debt has sounded a wake-up call many times. There are voices that think the US is about to face fiscal liquidation. At that time, the government will no longer be able to drink freely from the springs of “unjust wealth.” Concerns about future crises, increasing interest by $55 billion a year have distracted people, and many people may have overlooked that the government's dependence on debt has caused many internal and external problems. Interest expenses on US federal debt now exceed military spending, which is roughly equivalent to the annual cost of federal health insurance. This amount is more than the government's spending on anything other than social security. The “Big and Beautiful Act” will exacerbate this excessive squandering. In 2017, the US president signed the country's largest tax cut in the previous 30 years, and the “Big and American Act” will repeat its mistakes.