Will entitlement programs and debt consume U.S. budget in 2025?
The Truth-O-Meter Says: Says the Congressional Budget Office has estimated "every penny of the federal budget will go to interest on the debt and entitlement spending by 2025." Frank Wolf on Wednesday in a floor speech. Share this story: U.S. Rep. Frank Wolf says the nation’s fiscal future is dark. "According to the Congressional Budget Office’s long-term estimate, every penny of the federal budget will go to interest on the debt and entitlement spending by 2025," Wolf, R-10th, said in a March 28 speech on the House floor. "That means no money for national defense. No money for homeland security. No money to fix the nation’s crumbling bridges and roads. No money for medical research to ...