Gross interest payments on US debt topped $1 trillion

Gross interest payments on US debt topped $1 trillion

Federal government pays $1 trillion in interest on debt, as national debt continues to rise. Treasury Department statement reveals fiscal year 2024 figures.

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…

US interest payments on national debt top $1 TRILLION per year

The jump in interest debt is up to $1.049 trillion and is a 30 percent increase from the same period a year ago.

U.S. Debt Interest Payments Top $1 Trillion

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…