Interest Payments
topic on 2 shows · 3 statements across 3 episodes
3 statements about Interest Payments, every show
Musk: US debt interest payments exceed Defense Department budget
“At the end of the day if you look at our national debt, which is insanely high the interest payments Exceed the Defense Department, I guess, sorry, War Department budget.”
Friedberg: Each 1% rate rise above 3.6% adds $350B to US interest
“For every incremental one percent above 3.6, you're spending an extra three hundred and fifty billion a year in interest.”
Card issuers make most revenue from interest rather than interchange fees
“The money that card issuers make Only a minority of it is actually from the interchange. And keep in mind, the card issuers are the ones that make that 1.6%, the bulk of the transaction. Most of the money that card issuers make is from interest payments.”