US debt crisis deepens as interest costs surge to new highs
TL;DR Summary
The US debt picture worsened as annual interest payments climb to a record $1.25 trillion, equaling about 18.5% of federal revenue (the highest since 1991). With debt service consuming roughly one-fifth of government revenue, the fiscal burden could crowd out other programs and limit policy flexibility, while rising Treasury yields contribute to the surge.
Topics:business#budget-tax-and-economy#debt#federal-budget#interest-expense#treasury-yields#us-economy
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