The U.S. government has spent over $1 trillion on interest payments for its nearly $35 trillion national debt this year, according to the Treasury Department. This marks a 30% increase from the previous year. Net interest payments, after accounting for government investment earnings, totaled more than $800 billion, ranking just below Social Security and Medicare. The August budget deficit surged to $380 billion, pushing the 2024 deficit close to under $2 trillion. Treasury yields have fallen recently, with the Fed expected to lower rates slightly next week.
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00:00It's Benzinga, and here's what's on the block.
00:02The U.S. government has spent over $1 trillion on interest payments for its nearly $35 trillion
00:08national debt this year, according to the Treasury Department.
00:11This marks a 30 percent increase from the previous year.
00:14Net interest payments after accounting for government investment earnings totaled more
00:18than $800 billion, ranking just below Social Security and Medicare.
00:22The August budget deficit surged to $380 billion, pushing the 2024 deficit close to under $2
00:30Treasury yields have fallen recently, with the Fed expected to lower rates slightly next week.
00:34For all things money, visit Benzinga.com.