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The Bipartisan Policy Center in Washington asserts that the United States’ trillions of dollars in debt now poses a clear threat to national security. In the fiscal year 2024, the U.S. allocated nearly 1 trillion dollars towards rising interest payments driven by this enormous debt.
Increase in Interest Expenses
The center emphasizes that net interest expenses for fiscal year 2024 exceed the budget allocated for various national security programs. The U.S. needs to pay 882 billion dollars in interest due to national debt, surpassing the total national defense spending of 874 billion dollars for the same fiscal year.
“The large and growing national debt creates long-term economic and security risks that are becoming more apparent.”
Furthermore, the Bipartisan Policy Center notes that the rising U.S. debt has created pressure on legislative bodies to reduce government programs, particularly cuts to national defense spending, to manage budget deficits.
“If it continues to grow unchecked, high debt interest could eclipse other priorities, weakening our nation’s defense capabilities and our ability to support allies.”
Risks Ahead
The increasing dysfunction in the federal budgeting process further undermines the stability and predictability required by national security agencies, amplifying the threat. The U.S. is reported to need budget capacity to respond to emerging national security challenges in an evolving world.
Ultimately, the Bipartisan Policy Center warns that the U.S. government must take urgent steps to balance the debt and put fiscal policy on a more sustainable path. Otherwise, the nation risks losing its global military superiority.
