US Debt Interest Costs Hit Record $1.4 Trillion Over 12 Months
US interest expense on the national debt reached a record $1.4 trillion over the past year and is projected to keep rising.
US interest expense on the national debt reached $1.4 trillion over the last 12 months, a record high. The cost of servicing public debt has nearly tripled since 2020.
If rates remain stable, interest payments are projected to rise to $1.7 trillion by November 2028. At that level, interest costs would surpass Social Security spending as the government's largest outlay for the first time.
The figures highlight growing pressure from higher debt levels and elevated financing costs on the US budget.
Source: The Kobeissi Letter