U.S. Debt Interest Bill Rockets Past $1 Trillion a Year
November 7th, 2023Via: Bloomberg:
Estimated annualized interest payments on the US government debt pile climbed past $1 trillion at the end of last month, Bloomberg analysis shows. That amount has doubled in the past 19 months, and is equivalent to 15.9% of the entire Federal budget for fiscal year 2022.
The figures are calculated using US Treasury data which state the government’s monthly outstanding debt balances and the average interest it pays.
Holy IMF karma, Batman!