America is going to pay a lot of interest soon. But don't fear a debt crisis.

Here's the real problem

A one hundred dollar bill.

Between tax cuts and new spending, the U.S. government's total debt load is set to balloon from just under 80 percent of the economy right now to just under 100 percent in a decade. Meanwhile, as the economy recovers, the Fed is gradually raising interest rates.

The combined result? The federal government paid $263 billion in interest in 2017, but that will swell to $915 billion in 2028. That will be 13 percent of all federal spending — more than Medicaid or even the military.

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Jeff Spross

Jeff Spross was the economics and business correspondent at TheWeek.com. He was previously a reporter at ThinkProgress.