The Federal Ticking Time Bomb

 According to EJ Antoni, Research Fellow at the Heritage Foundation, for the first time ever, over 75% of what we pay in federal income tax goes to pay the interest on our national debt of over $35 trillion. 

The government spent over $140 billion in a single month to service the huge national debt. 

It will spend almost $1.2 trillion by the end of the fiscal year in interest alone. 

The $140 billion in debt service is greater than the amount spent on Social Security ($129 billion), Medicare/Medicaid ($90 billion), Department of Education ($87 billion) or the Department of Defense ($63 billion).