US Government Spent $1 Trillion in 2024 on National Debt Interest Payments
In what is an immensely concerning development, the US government has reportedly spent $1.049 trillion in 2024 on interest payments for its national debt. Indeed, the government’s debt figure has surpassed $35.3 trillion this year, as the country faces an impending crisis. The US Treasury Department reported the spending as the interest rate payments passed the $1 trillion mark for the first time in history. The figure is up 30% from this point last year. Moreover, the total debt service is expected to be even bigger by the end of the calendar year. JUST IN: US government announces it has spent over $1 trillion this year on interest payments for its $35.3 trillion national debt. — Watcher.Guru (@WatcherGuru) September 12, 2024 Also Read: Donald Trump Suggests Paying Off $35T National Debt With Bitcoin US Treasury Reports $1 Trillion Spent on Interest For National Debt The US economy has certainly been in a concerning position. Amid its fight against inflation, the Federal R...