Syndicated radio host Dan Bongino sounded the alarm on the looming disaster posed by America’s precarious economic situation.
Bongino warned Americans of the federal government’s massive budget gap of $1.7 trillion during the Oct. 23 edition of The Dan Bongino Show. saying it would lead to “the most predictable financial apocalypse in human history.” Bongino pointed out that this spending would have serious ramifications in the near future: “[T]he U.S. budget gap this year, soared to an astonishing 1.7 trillion dollars, which don’t worry folks, is only the largest outside the covid-era ever.” He also mocked leftists and others who believe President Biden cut the budget deficit, telling them “the verdict is in, I’m sorry, you’re a moron.”
Bongino cited Heritage economist E.J. Antoni on the growing interest the United States will have to pay on the debt each year. Bongino added, “Here’s how bad the situation is. ‘Interest payments on the federal debt have now hit $879 billion last fiscal year, eclipsing all military spending by 103 billion dollars.’” Antoni made the harrowing point in a post on X that “if the treasury keeps issuing new debt ($500 billion this month alone) and rolling over old debt at higher rates, annual interest will exceed $2 trillion by 2030.”
Bongino responded to that figure by noting the steep slope of increasing federal spending, noting that the federal budget was around $2 trillion in the not-too-distant past. In fact, the federal budget remained under $3 trillion until former President Barack Obama’s first term.
Bongino pointed out the steep slope of increasing interest payments. He suggested that this expense would ultimately threaten programs like Social Security, Medicare and Medicaid, in addition to government departments like the Drug Enforcement Administration (DEA) or Veterans Affairs (VA). “Nothing to worry about folks, just the most predictable financial apocalypse in human history,” Bongino concluded.
Conservatives are under attack! Contact your representative and ask what they are doing to rein in massive government spending before interest payments threaten America’s ability to ensure Americans safety and live up to her obligations.