Economy
Watchdog: National Debt’s interest will be second largest government expenditure for ’24
According to a new Committee for a Responsible Federal Budget (CRFB) analysis of the latest Congressional Budget Office projections, interest on the U.S. national debt is on pace to become the “second largest” federal government expenditure for 2024.
Just The News reports The CRFB characterizes interest on the national debt — currently climbing to $35 trillion — as the “fastest growing” part of the federal government’s annual budget. The CRFB’s February report adds that “As a share of the economy, debt will grow from 97 percent of Gross Domestic Product (GDP) in Fiscal Year (FY) 2023 – twice the 50-year historical average of 48 percent – to a record 106 percent of GDP by 2028.”
“Net interest payments will exceed both defense and Medicare spending this year, in FY 2024, according to new projections from the Congressional Budget Office (CBO). That will make interest the second largest government expenditure,” according to the budget watchdog’s analysis.
“Net interest has been exploding over the past few years, with payments rising from $223 billion in 2015 to $352 billion in 2021 before nearly doubling to $659 billion in 2023. In 2024, CBO projects net interest will total $870 billion, a near-record 3.1 percent of Gross Domestic Product (GDP),” the CRFB noted.
According to the CRFB, federal spending on interest had “already topped the Medicaid budget and all spending on children” in 2023.
“At a projected $870 billion, interest will surpass current spending on national defense ($822 billion) in 2024 and grow well beyond the defense budget over time,” the organization said.
“Interest costs will also slightly exceed net Medicare spending ($851 billion) this year and remain in line with Medicare costs in future years. That would make interest the second largest line item in the budget after Social Security,” the CRFB also said.
Economy
FEMA Supervisor Claims Avoidance of Trump Supporters Was Not an Isolated Incident
Marn’i Washington, the former Federal Emergency Management Administration (FEMA) supervisor fired for instructing workers to avoid homes displaying Trump campaign signs, stated on Tuesday that the incident was part of a larger pattern of political bias within the agency. Washington, who previously served as a Disaster Survivor Assistance crew leader in Highland County, Florida, called the occurrence a “colossal event” that extended beyond Florida, affecting other states like North and South Carolina after hurricanes devastated the region.
According to the Daily Caller News Foundation, Washington’s comments came in an interview with journalist Roland Martin, where she described the practice as part of a broader trend within FEMA, alleging that it had occurred in multiple states, particularly in areas that had supported President Donald Trump. “If you look at the record, there is what we call a community trend,” Washington said, suggesting that FEMA’s actions weren’t isolated. “FEMA always preaches avoidance first and then deescalation. This is not isolated. This is a colossal event of avoidance not just in the state of Florida, but you will find avoidance in the Carolinas.”
Washington’s remarks stem from an incident in which her team, while canvassing for hurricane relief in Lake Placid, Florida, was instructed to avoid homes with Trump signage. According to reports, the move resulted in at least 20 homes with Trump-related signs or flags being skipped over for disaster relief assistance between late October and November. These actions were allegedly in line with a set of “best practices” that included safety tips alongside the politically charged directive to avoid Trump supporters.
Washington clarified that the guidance came from higher-ups in FEMA, including Chad Hershey, her supervisor, who reportedly instructed staff to bypass homes they deemed unsafe due to hostile encounters with residents. “We will canvass at [homes] that do not have the community trend with the Trump campaign signage,” Washington explained. “If any of those residents come outside and say ‘hey, I want to register,’ we’ll welcome them into our arms… But we were not going to subject our people to continue with verbal abuse or hostile encounters.”
The former supervisor emphasized that her team experienced verbal abuse from residents who displayed Trump campaign signs on their properties, leading to her instruction to avoid those homes entirely. Washington also mentioned that her team was instructed to log reasons for skipping homes, with notes like “Trump sign no entry per leadership,” “Trump sign, no stop Trump flag,” and “Trump sign, no contact per leadership” appearing in the records. These notes were reportedly made in Highlands County, a region where nearly 70% of residents voted for Trump.
The controversial directive came in the wake of Hurricanes Helene and Milton, which struck the area in October, leaving millions without power and causing approximately $50 billion in economic damage, as reported by President Joe Biden. FEMA has not denied the incident but has indicated it is taking steps to address the matter. Hershey confirmed to the Daily Wire that the agency was “aware” of the incident and is taking “immediate action.”
Washington’s firing has drawn attention to possible partisan practices within federal agencies. While she defended her actions as being in response to a difficult environment, she also criticized FEMA’s leadership for allegedly not addressing the broader issue of political bias within the agency. Washington’s claims have sparked broader questions about the extent of political influence in government disaster relief efforts and whether such biases might impact the fairness of assistance distribution in future emergencies.
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