Interest and military and take a distant third and fourth place respectively. Here are the rough proportions of the top US federal budget expenditures according to the Treasury Department:
- Healthcare (Medicare and Medicaid): 24%
- Social Security: 23%
- Net Interest on Federal Debt: 15%
- National Defense: 13%
And I'll point out that the enormous bill for the interest on debt is a pretty good reason to avoid ringing up so much debt in the first place.
- Healthcare (Medicare and Medicaid): 24%
- Social Security: 23%
- Net Interest on Federal Debt: 15%
- National Defense: 13%
And I'll point out that the enormous bill for the interest on debt is a pretty good reason to avoid ringing up so much debt in the first place.