{"id":139552,"date":"2024-10-13T09:00:12","date_gmt":"2024-10-13T06:00:12","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=139552"},"modified":"2024-10-13T02:27:30","modified_gmt":"2024-10-12T23:27:30","slug":"u-s-faces-nearly-1-trillion-in-interest-payments-as-national-debt-soars","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/u-s-faces-nearly-1-trillion-in-interest-payments-as-national-debt-soars\/","title":{"rendered":"U.S. Faces Nearly $1 Trillion in Interest Payments as National Debt Soars"},"content":{"rendered":"

According to data<\/a> <\/strong>from the Congressional Budget Office (CBO), the federal budget deficit for the 2024 fiscal year, which concluded on September 30, reached about $1.8 trillion.<\/p>\n

Last year, the government brought in $4.918 trillion in revenue while its total spending amounted to $6.752 trillion. Interest payments on the national debt emerged as the second-largest federal expense, surpassed only by the roughly $1.448 trillion designated for Social Security.<\/p>\n

The announcement of the sizable budget deficit comes amid a surge in the national debt, which has now reached $35.693 trillion. Adam Kobeissi, editor of The Kobeissi Letter, points out that the growth in public debt is far outpacing the expansion of the economy.<\/p>\n