US Daily Interest Costs Now Outpace Medicare and Defense Spending
The US government is spending $3.8 billion per day on interest, above daily Medicare and defense outlays, with estimates pointing to roughly $5 billion per day by 2028.
The US government is now spending $3.8 billion per day on interest payments, according to The Kobeissi Letter. That compares with about $3.1 billion per day for Medicare and $2.5 billion per day for defense.
Projections cited in the post show interest costs rising to roughly $5 billion per day by 2028, which would make debt service the largest spending category. The update notes that Treasury intervention can only act as a short-term fix while the underlying cost of carrying debt continues to climb.
Source: The Kobeissi Letter