US EditionGross interest payments on US debt topped $1 trillion
- US interest payments on the national debt have exceeded $1 trillion annually under the Biden-Harris administration.
- The US has crossed the Minsky Moment with debt interest hitting record highs, now above $35 trillion and increasing rapidly.
- Annualized interest payments on US debt are estimated at $1.158 trillion, contributing to a near $2 trillion deficit this year.
10 Articles
10 Articles
Interest on US Debt Soars Past $1 Trillion for First Time, Unprecedented August Deficit at Record High
The U.S. government has spent more than $1 trillion this year just to pay interest on its national debt, a terrible milestone reached as the Federal Reserve continues to keep interest rates at their highest in over two decades. This has led to an unprecedented rise in debt service costs, contributing to a sharp increase in the federal budget deficit, which is nearing $2 trillion for the year. The surge in spending has alarmed many, raising conce…
Endgame: Interest On US Debt Surpasses $1 Trillion For First Time Ever, Exploding August Budget Deficit To Record High - Nemos News Network
2024 was the year when the runaway US budget deficit was supposed to gradually normalize, and after two crisis-years, the US was supposed to end its drunken sailor spending ways. And for a while there, it seemed touch and go, with the cumulative US deficit initially overtaking 2023 – forget about the batshit insane 2021 and 2022 when the deficit hit a mindboglilng 18% of GDP… … before slowly easing back for a few months, only to sprint ahead o…
Interest Payments on U.S. Debt Surpass Trillion Dollar Threshold - American Faith
This year has seen the U.S. government’s debt interest costs exceed $1 trillion for the first time, marking a significant financial milestone. Up to the end of August, with one month still to go in the fiscal year, the total interest paid reached $1.05 trillion, reflecting a 30% increase from the previous year, as announced by the Treasury Department on Thursday. This occurrence marks the first instance of interest expenditures surpassing the tr…
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