US Debt Interest Payments Top $1 Trillion as Rates Rise, Stirring Fiscal Concerns
- US debt interest payments have crossed $1 trillion annually
- Interest payments have doubled in the past 19 months
- Interest payments are 15.9% of the 2022 Federal budget
- Higher interest rates may reignite debate about US fiscal path
- Maturing debt from 2020 will need refinancing, adding to issuance