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Mike Lee @BasedMikeLee - Nailed it
Parent Post:
Wall Street Mav @WallStreetMav - The July 2026 US govt budget data is out.
We are at $40 trillion in national debt, growing at about $2.1 trillion per year.
They had to borrow $432 billion in new debt just for July.
24% of all revenue went to paying interest on the debt. In reality it is 42% of all corporate and income taxes going to interest payments on the debt. The FICA taxes automatically go to paying for Social Security and Medicare, so that money is not used at all for interest payments on the debt.
https://x.com/BasedMikeLee/status/2087623566862737674

Mike Lee @BasedMikeLee - We need a constitutional reset
We can’t sustain a $40 trillion national debt—increasing at a rate of $2 trillion per year
Quoted Post:
Wall Street Mav @WallStreetMav - The July 2026 US govt budget data is out.
We are at $40 trillion in national debt, growing at about $2.1 trillion per year.
They had to borrow $432 billion in new debt just for July.
24% of all revenue went to paying interest on the debt. In reality it is 42% of all corporate and income taxes going to interest payments on the debt. The FICA taxes automatically go to paying for Social Security and Medicare, so that money is not used at all for interest payments on the debt.
https://x.com/BasedMikeLee/status/2087623525620240838