Washington blinks as debt costs begin to bite

But the the coming decades ce that Washington is Washington tem the tide of red ink.

annual sed spending on entitlements and interest could snowball in the coming decades, p first g pressur nearly a decade to act earlier.

The Congress dministration argues that rising debt has been driven mostly by higher interest rat Washington s revenue.

Republicans are resistant to discussing higher dozen , particularly before 2024. Capitol Hill tion is GOP w long interest rates stay high; by the end of 2026, it could mean trillions more in interest paymen Democrats class="summaryFeed_highLightText__NxlGi">Garret Graves Involvement with the admin Joe Biden Donald Trump ass="summaryFeed_highLightText__Nxl Social Security Medicare n class="s two aryFeed_highLightText__NxlGi">GOP Republicans _highLightText__NxlGi">trillions House "summaryFeed_h Jodey Arrington xlGi Texas ercent the end of 2026 the end of next year the Federal Reserve’s percent Fed Tenn. < U.S. class="summaryFeed_highLightText__NxlGi"> more than $26 trillion span class="summaryFeed_highLightText__NxlGi">one the coming decades Washington d_highLightText__NxlGi">Tex annual an> Chip Roy Warren Davidson >Wor Ohio ar Tw Freedom Caucus n class="summaryFeed_h the House Financial Services Committee class="summaryFeed_highLightText__NxlGi">2024 Republicans >Republicans American Rescue Plan 2021 U.S. i">GOP Democratic Treasury recent years ed_highLightText__NxlGi">Republican the Congressional Budget Office cans Treasury ="summaryFeed_highLi trillions of dollars n the next decade ghLightText__NxlGi">below 2 percent Treasury second mmaryFeed_highLightText__NxlGi" two years llenMarc Goldwein ass="summaryFeed_highLightTe the Committee for a Responsible Federal Budget ryFeed_h Social Security xlGi">Biden Utah Fifty-six percent d_hi Americans xt__NxlGi">Mitt Romney 51 percent > last year n> Pew Research "summaryFee June ghLightTe Biden xlGi">Republicans Americans eed_highLightText__NxlGi">Sherman < Trump class="summaryFeed_highLightText__NxlGi">Calif.next year pan class="summaryFeed_highLightText__NxlGi">Brad Sherman Goldwein htText__NxlGi">Medicare Social Security Trojan Horse Republicans maryFeed_highLightText__NxlGi">last month The White House one Arrington tText__NxlGi">Democratic