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Interest payments on the US national debt top $1 trillion as deficit swells
The U.S. government for the first time has spent more than $1 trillion this year on interest payments for its $35.3 trillion national debt, the Treasury Department reported Thursday. With the Federal Reserve holding benchmark rates at their highest in 23 years, the government has laid out $1.049 trillion on debt service, up 30% from the same period a year ago and part of a projected $1.158 trillion in payments for the full year. Subtracting the interest the government earns on its investments, net interest payments have totaled $843 billion, higher than any other category except Social Security and Medicare. The jump ... (full story)
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- Sep 13, 2024 2:20am Sep 13, 2024 2:20am
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TudorIoan - Joined Dec 2015 | Status: Member | 3441 Comments
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- Posted: Sep 12, 2024 4:09pm
- Submitted by:Category: Fundamental AnalysisComments: 1 / Views: 5,149
