Rep. Jason Smith

@RepJasonSmith ↗

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Last Checked July 13, 2022

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Mon May 09 18:10:35 +0000 2022

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Rep. Jason Smith @RepJasonSmith

Even under the modest scenario of a 3% average rate, interest payments on the debt will become the largest expenditure in the federal budget by 2051. More than Social Security. More than Medicare. More than defense spending to protect America and provide for our troops. https://t.co/1sr5j4qui6 — PolitiTweet.org

Posted May 9, 2022

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Rep. Jason Smith @RepJasonSmith

To combat Biden's inflation crisis, interest rates are rising – making it more expensive to buy a house, small businesses to expand, farmers to buy equipment, and the federal government to function. Here are 5 scenarios that show how rising interest rates impact America’s debt: — PolitiTweet.org

Posted May 9, 2022

Followed By

Rep. Jason Smith @RepJasonSmith

A higher interest rate of 3.9% will further crowd out vital government functions and private investment in the economy. According to CBO, if interest rates are even ONE percentage point higher than currently projected, the deficit would increase by $2+ trillion over 10 years. https://t.co/f334YIU8jw — PolitiTweet.org

Posted May 9, 2022