The Block founder announced Thursday the company would be laying off nearly half its workforce, cutting 4,000 employees, down to just under 6,000 workers from over 10,000.
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Right now, interest spending sits roughly neck-and-neck with Medicare, one of the most popular and politically untouchable programs in the federal budget. The CBO projects that by 2029, net interest costs will officially surpass Medicare, making it the second-largest government program, trailing only Social Security. That milestone is less than four years away.
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