Interest payments on US debt have surpassed $1 trillion annually for the first time ever.
Interest payments have not only surpassed $1 trillion annually but they have grown by 30% over last year.
What a mess.
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BREAKING: Interest on U.S. debt tops $1 trillion for the first time.
In the first 11 months of the fiscal year, interest payments totaled $1.05 trillion, up 30% from a year ago, the Treasury Department reported.
Remember, government overspending is the real cause of inflation.
Elon Musk was quick to share this tweet.
Interest payments on the Federal government debt increased 30% from last year! https://t.co/qbcUTbghwj
— Elon Musk (@elonmusk) September 12, 2024
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