Scottmelker on Nostr: U.S. Federal Debt Interest Costs Hit $1.1 Trillion as Daily Payments Reach $3 Billion ...

U.S. Federal Debt Interest Costs Hit $1.1 Trillion as Daily Payments Reach $3 Billion

The U.S. Federal debt’s annual interest costs have surpassed $1.1 trillion, with the government now paying a record $3 billion per day in interest. This expense is triple what it was a decade ago and has doubled in the past 2.5 years, according to the Kobeissi Letter. Even if the Federal Reserve cuts interest rates by 1%, the daily interest cost would still be $2.5 billion, more than double the average from 2009-2019. The rising debt, now over $35.3 trillion, combined with high interest rates, has made interest payments one of the country’s largest expenses.

Source: Crypto Globe