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flag U.S. faces debt crisis as interest payments surge, threatening national security and Social Security's future.

flag The national debt is nearing a critical point, with the debt almost equal to the size of the economy. flag Mike Murphy from the Committee for a Responsible Federal Budget warns that interest payments on the debt are growing faster than any other federal expense and could reach $1 trillion annually. flag This, combined with Social Security and Medicare costs, may consume 87% of future federal spending growth. flag Foreign holdings of U.S. debt, especially by China, pose a national security risk. flag Murphy urges bipartisan action to prevent a crisis, citing the balanced budget in 2001 as a model. flag He also warns of Social Security's potential insolvency within six to seven years, which could lead to significant cuts for beneficiaries.

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