Economy · World
US National Debt Interest Payments Surge to $1.25 Trillion Annually
Interest payments on the United States' national debt have risen to an estimated $1.25 trillion per year, a significant increase described as 'uncharted territory'. This surge is attributed to rising interest rates. The U.S. national debt has reached approximately $40 trillion. This level of debt servicing expenditure now exceeds what several countries, including the U.S., France, and the UK, spend on defense.
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- Centre (2): Financial Times, Fortune