According to the U.S. Treasury Department's Office of Debt Management, the U.S. government is just five years away from the point where every new dollar it borrows from the public will go toward funding interest payments on the national debt.
Negative Borrowing Deficit
That is the main takeaway from the Debt Management Office's Fiscal Year 2019 Q1 Report, which featured the Office of Management and Budget's latest projection of the U.S. government's borrowing from the public, shown in the chart below:
ZeroHedge explains the significance of what the chart shows as the Primary Deficit, indicated as the blue portion of the bars in the chart, swings from positive to negative beginning in 2024:
As part of today's Treasury Presentation to the Treasury Borrowing Advisory Committee, there is a chart showing the Office Of Debt Management's forecast for annual US debt issuance, broken down between its three component uses of funds: Primary Deficit, Net Interest Expense, and "Other."