US Debt Interest Payments Top $1 Trillion as Rising Rates Fuel Budget Concerns
-
Annualized US debt interest payments exceeded $1 trillion in October, doubling over the past 19 months.
-
High interest rates have made borrowing more expensive, adding pressure on ballooning US debt.
-
Interest payments were 15.9% of the 2022 federal budget, setting a concerning precedent.
-
Total US debt now exceeds $33 trillion, and rising interest costs create a feedback loop requiring even higher yields.
-
If debt is not controlled, default may be inevitable in coming decades according to budget experts.