Interest on the US National #Debt now takes 9% of federal revenue

Richard Russell had this to say on his Daily Letter:

"Speaking of the debt, interest on the national debt now takes 9% of every dollar of federal revenue. By 2040, interest will take up 58% of every dollar of federal revenue. By 2060, interest will take up 100% or ALL of federal revenue.

"The magic of compounding. By 2040, the government will annually devote four times as much in interest as it will to education, R&D and infrastructure combined."