Thursday, September 11, 2025

US Debt Interest Payments Top $1 Trillion as Burden Soars

The United States government’s cost of servicing its national debt surpassed the $1 trillion mark in 2023, according to data from the Federal Reserve

This staggering figure was driven by soaring interest rates and a record $34 trillion debt burden. Over the past decade, debt interest payments have more than doubled, fueled by massive government spending during the pandemic crisis.

Source: Visual Capitalist

The national debt is growing at an alarming rate of approximately $1 trillion every 100 days, equating to roughly $3.6 trillion per year. Consequently, the US government spent more than $2 billion per day on interest costs alone in 2023.

Moreover, the situation is exacerbated by the country’s steep deficit, which stood at $1.1 trillion for the first six months of fiscal 2024. This deficit has been accelerated by a 43% increase in debt servicing costs, a $31 billion increase in defense spending, and a $30 billion increase in funding for the Federal Deposit Insurance Corporation due to the regional banking crisis.

According to projections from the Congressional Budget Office (CBO), approximately 75% of the federal deficit’s increase will be attributable to interest costs by 2034, highlighting the urgency of addressing the nation’s mounting debt burden and its associated costs.


Information for this story was found via Visual Capitalist, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Avino Q2 Earnings: Steady As She Goes

MEG Energy: Cenovus Comes In With $7.9 BILLION Offer

Orla Mining Q2 Earnings: Musselwhite Changes Everything

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

a16z Sets United Kingdom As First Overseas Location, Cites “Outcomes-Based Regulation”

Venture capital firm Andreessen Horowitz (a16z) has made a significant move by choosing London as...

Monday, June 12, 2023, 04:32:00 PM

Biden Signs Ban On Russian Enriched Uranium Imports

US President Joe Biden signed a bill on Monday prohibiting the import of Russian enriched...

Tuesday, May 14, 2024, 11:09:49 AM

New York State Senators Push to Decriminalize Drug Possession

New York state senators introduced legislation that would decriminalize personal drug possession and shift the...

Sunday, February 9, 2025, 09:39:00 AM

DraftKings Sees First Positive Adjusted EBITDA In Q2 2023

DraftKings Inc. (NASDAQ: DKNG) reported its financial performance in the second quarter of 2023, outperforming...

Friday, August 4, 2023, 02:13:00 PM

Amazon Is Rolling Out More Robots Into Its Warehouses

Amazon (NASDAQ: AMZN) is growing its fleet of robots in its warehouses to meet increased...

Friday, November 18, 2022, 04:37:00 PM