In 2019, the cost of interest on the national debt will hit $390 billion. This is nearly 50 percent more than in 2017, according to the Congressional Budget Office. The increase is due to interest rates returning to about 3.0 to 3.5 percent. The Federal Open Market Committee increased the fed funds rate 25 basis points to a range 2 percent to 2.25 percent and there are plans for several more interest rate increases.
Increasing interest payments on US debt will squeeze out any other federal spending.
There are also increasing commitments to pensions and healthcare.
Interest will be heading to traditional levels of 4.2%. Debt will continue to rise by around $800 billion to $1 trillion per year. Debt in 2019 will be $22.5 trillion.
3% interest rates would have $675 billion interest each year.
4% interest rates would have $900 billion interest each year.
Wang is a prolific business-oriented writer of emerging and disruptive technologies. He is known for insightful articles that combine business and technical analysis that catches the attention of the general public and is also useful for those in the industries. He is the sole author and writer of nextbigfuture.com
, the top online science blog. He is also involved in angel investing and raising funds for breakthrough technology startup companies.
He gave the recent keynote presentation at Monte Jade event with a talk entitled the Future for You. He gave an annual update on molecular nanotechnology at Singularity University on nanotechnology, gave a TEDX talk on energy, and advises USC ASTE 527 (advanced space projects program). He has been interviewed for radio, professional organizations. podcasts and corporate events. He was recently interviewed by the radio program Steel on Steel on satellites and high altitude balloons that will track all movement in many parts of the USA.
He fundraises for various high impact technology companies and has worked in computer technology, insurance, healthcare and with corporate finance.
He has substantial familiarity with a broad range of breakthrough technologies like age reversal and antiaging, quantum computers, artificial intelligence, ocean tech, agtech, nuclear fission, advanced nuclear fission, space propulsion, satellites, imaging, molecular nanotechnology, biotechnology, medicine, blockchain, crypto and many other areas.