We paid out more last year on our debt, $36 trillion in debt, with $950 billion in interest going to bondholders all over the world, including in China. That $950 billion didn't go to build a bridge or an F-35. We paid more on the interest on debt than we did to fund our military. That is an inflection point that when most countries hit, you look at history, that's when great powers start to decline. So we have to get those savings.
Sullivan warns about the implications of high debt interest payments.
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