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For most of U.S. history, the country spent more on defense than on debt service; by the end of the current year, it will be paying more on debt service than on defense—a structural problem for a country in major geopolitical rivalry with China.

factualpending

Speaker

Niall Ferguson

Evidence Quote

“for most of its history the United States has comfortably spent more on defense than on debt service that is no longer true uh by the end of this year it will certainly be paying much more Debt Service or somewhat more Debt Service than uh defense”

Source

The 4 Biggest Threats to the West, According to Historian Ferguson | At Barron's— Barron's
Created: 8/12/2026, 10:29:25 PM

My Notes

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