SkyBridge Capital founder Anthony Scaramucci warned that rising borrowing costs could intensify pressure on U.S. finances, arguing that higher taxes may be necessary to rein in the country’s growing debt.
Scaramucci Warns 6% Rates Could Mean $2.4 Trillion Interest Bill
On Friday, in a post on X, Scaramucci, former White House communications director, said a 6% interest rate on the $40 trillion national debt would cost $2.4 trillion in annual interest.
“This isn’t apocalyptic. It’s just math,” he wrote, warning that the potential interest bill would exceed total Social Security disbursements.
On The Don Lemon Show, Scaramucci clarified that he wasn’t suggesting all outstanding federal debt would immediately carry a 6% rate.
However, he warned that higher borrowing costs could make the debt increasingly difficult to sustain.
Clinton-Era Tax Rates Could Cut Deficits
Scaramucci argued that returning to tax rates from former President Bill Clinton’s administration, alongside additional adjustments, could reduce projected deficit spending by $10 trillion to $12 trillion over the next decade.
“But there’s no Republican that’s going to do that. Donald Trump’s not going to do that,” he said.
He added, “When Donald Trump leaves office, he’ll be responsible for 42% of all the national debt.”
Scaramucci Warned Of Rising US Debt
Last month, Scaramucci warned that U.S. national debt could reach $56 trillion by 2036, with annual interest costs projected to hit $2.1 trillion.
He blamed both parties for decades of borrowing, writing, “For twenty-five years, both parties have sold us something for nothing, and the national debt is the receipt.”
Rising US Debt Concerns
Economist Michael A. Peterson warned that the $40 trillion national debt was “stealing from our next generation,” citing rising deficits and interest costs.
In August, Peter Schiff warned that the $39.835 trillion debt could complicate the Federal Reserve’s efforts to control inflation and manage borrowing costs.
He argued that rising debt was pushing the Fed to create inflation and asked investors, “Got gold?”
The U.S. national debt surpassed $40 trillion in August 2026, prompting market strategist Ryan Detrick to compare it to a stack of $1,000 bills 72 times the height of Mount Everest.
He urged investors to consider rising household wealth alongside the growing debt.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Katiindies on Shutterstock.com
Recent Comments