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Borrowing to get costlier in the US
Goldman Sachs predicts the cost of financing the US debt is about to be more expensive than ever. Goldman Sachs strategists have pointed to the rising cost of borrowing over the last year. In 2022, it cost the government 476 billion dollars, or around 2% of the national GDP, to pay the interest on its debt. Strategists estimate that interest payments are set to rise to 3% of GDP in 2024, and 4% of GDP by 2030.
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