Where are the old folks on this thread?
The post above was the USA paid more in bond debt interest than the military
Ah the 1970s - you could have rolled the dice and purchased 15% 30 year treasury bonds - 5% more than the average s&p return for 30 years and no fed tax to boot.
1960's space race was extremely expensive
Vietnam war - expensive
The debt grew - the economy was choked as money went from being spent by government into society to pay bond holders
Yeah - not a fan of Carter - but whomever got elected was in a bad spot.
Fast forward to today
Non stop war for 25 years
The US both issued a shit ton of bonds and inflated the money supply.
Both sides are guilty.
Congress mandated poor people could buy homes. The failed lender
